SHANGHAI, Feb 17 (SMM) - As of February 17, the nickel ore inventories at Chinese ports dipped 230,000 wmt from a week earlier to 7.6 million wmt. The total Ni content dropped 2,000 mt to about 60,000 mt. The port inventory of nickel ore across seven major Chinese ports stood at 4.22 million wmt, 180,000 wmt lower than the previous week, with the inventory at Jingtang Port falling the most. On the supply side, nickel ore shipments from the Philippines are hindered by the rainy season, tightening the market supply. On the demand side, NPI plants could only accept lower purchase prices after the NPI prices fell, which cannot boost the nickel ore imports. Port inventory of laterite nickel ore will maintain a downward trend amid the game between buyers and sellers.
