SHANGHAI, Sep 30 (SMM) - As of September 30, port inventories of nickel ore in China added 229,000 wmt to 7.61 million wmt compared with the previous week. The total Ni content stood at 60,000 mt. Port inventory of nickel ore across seven major Chinese ports stood at 4.21 million wmt, 109,000 wmt higher than last week. Nickel ore prices rose slightly amid the restocking demand approaching the rainy season, and the mines became more willing to ship. Besides, the production of domestic NPI plants was still lower than expected even though the plants resumed their operation somewhat, and the consumption of nickel ore stayed stable amid the rising arrival. Therefore, the port inventory began to grow. However, the inventory rose limitedly before the rainy season amid the declined overall shipments in 2022 caused by the poor weather condition and the slack demand. Port inventory of nickel ore may reach 8 million wmt.
