SMM

As of December 1, port inventories of nickel ore in China stood at 9.899 million wmt, up 207,000 wmt WoW. The total Ni content was 77,710 mt. The port inventory across seven major Chinese ports totaled 4.96 million wmt, 13,000 wmt higher than the November 24. 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.