SMM

As of December 22, port inventories of nickel ore in China stood at 9.411 million wmt, down 34,000 wmt WoW. The total Ni content was 73,890 mt. The port inventory across seven major Chinese ports totaled 4.73 million wmt, 56,000 wmt higher than the December 15. 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.