Nickel

Mining Weekly reported that by April 2015, Chinese ports will likely have exhausted their inventories of nickel ore.

Mining Weekly reported that by April 2015, Chinese ports will likely have exhausted their inventories of nickel ore.

As quoted in the market news:

[Shanghai Metals Market] last week noted that nickel ore inventories had been falling at China’s five major ports, – Tianjin, Rizhao, Lanshan, Lianyungang and Jingtang – which combined accounted for 70% of the country’s total port stocks.

As of October 10, stocks at the five major ports were 15.27-million tonnes, down 3.12-million tonnes, or a drop of 17% year-on-year, according to SMM data.

Based on the proportion at China’s five major ports, the country’s total nickel ore inventories should be 21.81-million tonnes and 15.81-million tonnes of this is available, SMM reported traders having said.

Click here to read the full Mining Weekly report.

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