SMM

On November 15, the national port nickel ore inventory slightly decreased by 62,000 wmt to 10.31 million wmt compared to November 8. The total metal content is 80,930 mt. Regarding the Philippines, as mid-November approaches, the focus of subsequent Philippine nickel ore shipments is expected to gradually shift from Surigao to the northern mines, with the quantity of shippable nickel ore continuing to decline, and domestic inventory mainly being consumed. The impact of weather factors is expected to continue until month-end.