Nickel ore inventories at Chinese ports rose 135,000 wmt to 5.62 million wmt

SHANGHAI, Apr 16 (SMM) — Nickel ore inventories across all Chinese ports increased 135,000 wmt from April 9 to 5.62 million wmt as of April 16, showed SMM data. 

In Ni content, the stocks rose 1,000 mt to 44,000 mt. 

SMM data also showed that nickel ore stocks across seven major Chinese ports decreased 74,000 wmt during the same period to 4.24 million wmt. 

Shipments from Surigao mining area resumed at the beginning of the month, and shipments from the Philippines may exceed 4 million wmt in April. The increase in port inventories came as scheduled, nickel ore prices dropped sharply, and negotiations were gradually active. Nickel ore inventories at Chinese ports will once again pile up.