SHANGHAI, Feb 10 (SMM) - As of February 10, the nickel ore inventory at Chinese ports dipped 267,000 wmt from a week earlier to 7.83 million wmt. The total Ni content dropped 2,000 mt to about 62,000 mt. The port inventory of nickel ore across seven major Chinese ports stood at 4.4 million wmt, 117,000 wmt lower than the previous week. SMM believes that the output of high-grade NPI will grow MoM in February, thus the consumption of nickel ore will increase. Ore shipments from the Philippines were limited during the rainy season in the country. It is expected that the port inventory of laterite nickel ore will maintain a downward trend.
