Just to relay the figures in an article I read today from metal.com (SMM website - Shanghai Metal Market not our beloved SMM LOL)
10M wmt of nickel ore in china ports (8.2M wmt usable)
Monthly consumption ~4M wmt
In Feb/Mar due to seasonal issues expected imports of 2M wmt/ month
Leaves 4.2M wmt of usable nickel ore come April
Considering inventories have been on the decline for quite a while, I wouldn’t expect them to increase after the seasonal issues are over. Instead they will probably stay low. Combine this with decreasing grades and we have a bit of a storm brewing… All we need is a shite load of Nickel Ore and we will be laughing... lol
AVQ Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
