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Home / Metal News / Nickel Ore Inventories at Chinese Ports Up 235,000 wmt WoW

Nickel Ore Inventories at Chinese Ports Up 235,000 wmt WoW

Dec 16, 2022 17:48

Source:SMM

As of December 16, port inventories of nickel ore in China added 235,000 wmt to 9.12 million wmt compared with last Friday.

SHANGHAI, Dec 16 (SMM) - As of December 16, port inventories of nickel ore in China added 235,000 wmt to 9.12 million wmt compared with last Friday. The total Ni content stood at around 72,000 mt. The port inventory of nickel ore across seven major Chinese ports stood at 4.99 million wmt, 215,000 wmt higher than the previous week. The arrival volume is reduced in the rainy season. The domestic NPI plants were less willing to produce amid the low profit margins, thus the nickel ore demand decreased. Therefore, the overall port inventory fluctuated upwards. In December, the overall NPI demand was slack. The market transactions will fall greatly after the downstream companies complete their pre-holiday stockpiling. SMM believes that the nickel ore inventory will not fall sharply in the rainy season since the demand weakens.

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