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Nickel Ore Inventories at Chinese Ports up 426,000 wmt on Week

iconSep 16, 2022 18:05
Source:SMM
As of September 16, port inventories of nickel ore in China added 426,000 wmt to 7.06 million wmt compared with last week.

SHANGHAI, Sep 16 (SMM) - As of September 16, port inventories of nickel ore in China added 426,000 wmt to 7.06 million wmt compared with last week. The total Ni content stood at 55,500 mt. Port inventory of nickel ore across seven major Chinese ports stood at 3.83 million wmt, 276,000 wmt higher than last week. The rainy season is approaching, thus the restocking demand for nickel ore increased. Besides, the improved market eased the downstream’s costs pressure, and the demand for raw materials recovered. On the supply side, shipment volume also rose after demand improved, and port inventories grew. It is expected that in the short term, NPI plants’ demand for nickel ore will increase further, and the port inventory will also rise.

Inventory

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