Nickel Ore Imports Rebounded In March On Fading Impact Of The Monsoon Season In The Philippines

Published: May 16, 2023 13:28

Source: SMM

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SHANGHAI, May 16 (SMM) -Customs data showed that China imported 2.12 million mt of nickel ore in March, up 42.9% month-on-month and 24.3% year-on-year.

SHANGHAI, May 16 (SMM) -Customs data showed that China imported 2.12 million mt of nickel ore in March, up 42.9% month-on-month and 24.3% year-on-year. Nickel ore inventory at domestic ports showed an upward trend. The imports of laterite nickel ore were 2.08 million mt, up 42.3% MoM and 24% YoY. The imports of nickel ore from the Philippines soared 33% month-on-month to 1.44 million mt as shipments recovered after the impact of the monsoon season subsided. China imported 43,500 mt of nickel sulphide ore in March, up 28.6% MoM.

Nickel ore imports are expected to rise in April. Following loss-driven output cuts in March, NPI supply tightened in April, thus NPI plants were more willing to purchase nickel ore.

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