SMM

As of November 24, port inventories of nickel ore in China stood at 10.106 million wmt, up 97,000 wmt WoW. The total Ni content was 79,340 mt. The port inventory across seven major Chinese ports totaled 4.95 million wmt, 57,000 wmt higher than the November 17. It's almost the rainy season, the peak shipping period passed, and nickel ore will be in a phase of reducing inventory in Q4 2023.