CR Details, page-16

Hi Anton, I think you are on the money re: June being the month there will be a change in Ni price & stockpile direction.
Been following the ore stockpile reports at major Chinese ports (see below) & the week the ore stockpiles looked like dropping below 10 Million tonnes, the tracker added another port.
Possibly reading too much into this, but then again 10MT barrier would be a psychological one IMO, having dropped from 15MT back in November.

Looking forward to seeing the details of the CR and having been in POS for a while now, fully understand what it means to be patient with investment decisions!!





Minor increase in Nickel inventories - Note SMM was tracking 5 ports where an average reduction per week of 206kT was seen for the past 6 months. It looks like a major turn around as figures have gone from 10.26MT to 11.8MT, however I have had confirmation back from SMM that they have added another major port to the tracking numbers - so these numbers are for 6 major Chinese Ports, not 5 as per last weeks figures.

• May 25 2015 - Nickel Ore Inventories at China Major Ports Up Slightly - Nickel ore inventories at China’s six major ports increased 40,000 tonnes to 11.8 million tonnes last week
• May 18 2015 - Nickel Ore Inventories at China Major Ports Down 390,000 tonnes last week to 10.26 million tonnes due to growing consumption from domestic NPI producers
• May 15 2015 - Nickel Ore Inventories at Lianyungang Port Down Significantly, SMM Says
• May 11 2015 Nickel Ore Inventories at China Major Ports up 200,000 tonnes
• May 04 2015 - Nickel Ore Inventories at China Major Ports Down 200,000 tonnes on Limited Arrivals
• Apr 27 2015 - Port Inventories Down 110,000 tonnes to 10.65 million tonnes
• Apr 20 2015 - China Nickel Ore Port Inventories Down 192,000 tonnes to 10.76 Million Tonnes
• Apr 13 2015 - Drop 143,000 tonnes to 10.95 Million Tonnes
• Apr 07 2015 - Down 55,000 tonnes to 11.095 million tonnes
• Mar 30 2015 - Down 48,000 tonnes to 11.15 million tonnes

http://www.metal.com/site/search/cond/china-nickel-ore-inventories