SHANGHAI, Jan 6 (SMM)- As of January 6, inventory of nickel ore across Chinese ports dipped 370,000 wmt to 8.81 million wmt compared with last Friday. The total Ni content fell 3,000 mt to about 70,000 mt. The inventory across seven major ports totalled 4.88 million wmt. The inventory of nickel ore at ports trended lower in the rainy season in the Philippines. Due to poor weather conditions in the Philippines, the supply of nickel ore is tight. On the demand side, NPI prices remained rangebound, and the in-plant inventories of nickel ore carried by NPI plants were consumed normally. The nickel ore inventory at ports will continue to fall in the near future. The market expects the nickel ore demand to improve after the Chinese New Year holiday, which may accelerate the decrease in port inventory of nickel ore.
