June Nickel Ore Imports Analysis [SMM Data]

According to the latest data from the General Administration of Customs, China's nickel ore imports in June were 4.6841 million mt, up 1.6% MoM but down 11.4% YoY. Among them, the imports of sulphide ore were about 11,900 mt, up 15.3% MoM but down 73.5% YoY; those of oxide ore were 4.6722 million mt, up 1.6% MoM but down 10.9% YoY. The total nickel ore imports in H1 fell by 7% YoY.

Nickel ore imports from the Philippines were 4.3473 million mt, down 0.2% MoM and 11.06% YoY; imports from New Caledonia were 115,600 mt, down 22% MoM; and imports from Guatemala were 15,700 mt.

The Philippines remained the main source of China's nickel ore imports. Among imports from the Philippines, low-grade nickel ore continued to account for more than half, about 74%, followed by medium-grade laterite nickel ore. Additionally, after a three-month hiatus, China resumed importing nickel ore from Guatemala in June.