AM Statistics: Lateritic nickel ore stocks in China down by 2,840,000t Apr 28-May 2

BEIJING (Asian Metal) 5 May 14 - According to latest statistics released by Asian Metal, the stocks of lateritic nickel ore in Chinese main ports (nine ports) were around 18,250,000t on May 2, 2014, down by 2,840,000t compared with April 25.

Most ferronickel producers were eager to purchase nickel ore on the Chinese spot market and trading on the Chinese lateritic nickel ore market was active during the week. Supported by increasing ferronickel prices and strong demand from stainless steel plants, ferronickel producers were active in purchasing raw materials. Meanwhile, high-grade lateritic nickel ore supply was still unable to meet the demand from ferronickel producers. Some suppliers still held back from selling and waited for higher prices. Moreover, the purchasing of low-grade lateritic nickel ore increased as some high-grade ferronickel producers started to purchase low-grade lateritic nickel ore and nickel cathodes as raw materials to produce high-grade ferronickel. Furthermore, because of the bad weather in the Philippines, export volumes of nickel ore from the country to China remained at a low level. As a result, the stocks in Chinese ports declined further.

The detail of stocks in each port is as follows:

Unit: kt

Port	Stocks	Weekly change
Lianyungang Port	4250	-200
Tianjin Port	6150	-400
Rizhao Port	1550	-640
Lanshan Port	1800	-200
Fangcheng Port	300	-200
Jingtang Port	1800	-500
Zhanjiang Port	150	-
Yingkou Port	1450	-200
Caofeidian Port	800	-500
Total	18250	-2840