SHANGHAI, Apr 30 (SMM)—Nickel ore inventories across all Chinese ports expanded 77,000 wmt from the previous week to 5.37 million wmt as of April 30, showed SMM data.
In Ni content, the stocks rose 600 mt to 42,400 mt.
SMM data also showed that nickel ore stocks across seven major Chinese ports increased 37,000 wmt during the same period to 3.98 million wmt.
Demand for low-nickel high-iron ore slid as poor profits drove stainless steel mills to shift production of #200 stainless steel to other series.
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