Nickel Ore Inventories at Chinese Ports Surged 224,000 wmt
The nickel ore inventory at Chinese ports grew 224,000 wmt from a week earlier to 9.46 million wmt as of November 19. Total Ni content stood at 74,300 mt. The total inventory at seven major ports stood at around 4.54 million wmt, a rise of 84,000 wmt from a week earlier.
The total nickel ore inventories continued to grow even as some ports have seen inventory declines recently.
The shipments of nickel ore have slowed down significantly. The ocean freight has fallen amid the eased shipping pressure. The NPI output has gradually recovered. The nickel ore inventory is expected to decline next week.