Nickel Ore Inventories at Chinese Ports Fell 150,000 wmt on Week
As of April 8, the nickel ore inventory at Chinese ports dipped 150,000 wmt from a week earlier to 5.737 million wmt. Total Ni content stood at 45,100 mt. The total inventory at seven major ports stood at 2.445 million wmt, 30,000 wmt lower than last week. The decrease in inventory slowed down. At present, the rainy season in the Philippines gradually ends, so the import volume may increase significantly. Besides, the production of domestic manufacturers in some areas was poor due to the pandemic. Therefore, the destocking speed is expected to decline.
Source: SMM Information & Technology Co