SHANGHAI, Jul 23 (SMM) — Nickel ore inventories across all Chinese ports increased 325,000 wmt from July 16 to 5.66 million wmt as of July 23, showed SMM data.
In Ni content, the stocks stood at 44,600 mt.
SMM data also showed that nickel ore stocks across seven major Chinese ports increased 85,000 wmt during the same period to 3.5 million wmt.
Nickel ore inventories increased sharply this week. Customs imports fell short of expectations in June due to some cargoes held in port and the short-term shutdown of the northern ports in response to the environmental protection needs. The problem of holding in port eased in July, and the arrivals increased. Nickel ore inventories at Chinese ports may still maintain an upward trend in the near term amid peak season of delivery.
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