China February nickel ore imports dropped 32% YoY due to Indonesian ban

SHANGHAI, Mar 23 (SMM) – China’s imports of nickel ore shrank sharply in February as Indonesia banned exports from the start of the year.

China imported 1.38 million mt of nickel ore and concentrate last month, down 48.4% from January and 31.9% from February 2019, according to SMM calculations based on data from China customs. China’s nickel ore imports have fallen for five consecutive months.

Imports from Indonesia accounted for 142,100 mt, down 89.7% from a month ago, as they were not declared at customs until February after leaving Indonesia last year and arriving at Chinese ports in January.

The coronavirus seemed to have had limited impact on nickel ore imports from the Philippines in February, which rose 7.1% month on month and 59.4% year on year to 1.09 million mt. The increase from January was moderate as the country remained in the rainy season.

China’s nickel ore imports from New Caledonia dropped 24.6% to 112,700 mt from a month ago. The proportion of imports from New Caledonia to China’s total nickel ore imports remained small. New Caledonia nickel ore is of good quality, with high nickel content and low humidity.

The rainy season in the Philippines is not over yet, while the fast-spreading virus has prompted the Philippine government to take more stringent measures, which upset nickel ore shipment schedules.

That, coupled with adverse weather in New Caledonia, is expected to lead China’s nickel ore imports to shrink further in March.