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China Shipped Most Nickel Exports to LME-Approved Warehouse in Asia in July

iconSep 26, 2014 10:49
Source:SMM
China exported 16,284.29 tonnes of other unwrought non-alloy nickel in July, down 2.05% from June’s, according to China Customs.

SHANGHAI, Sept. 26 (SMM) – China exported 16,284.29 tonnes of other unwrought non-alloy nickel in July, down 2.05% from June’s, according to China Customs. 

The imports still held near the record high, despite of a month-on-month decline. 

In July, South Korea was the largest destination of China’s refined nickel exports, and nickel stocks at LME-approved warehouse in Gwangyang, South Korea surged by 4,296 tonnes to 4,836 tonnes.
 
Besides, 99% of nickel exports in July came from China’s bonded zone inventories (including pilot areas under Customs supervision). 
 
Hence, most of July’s exports were shipped to LME-approved warehouses in Asia, SMM estimates. 
 
As of Sept. 15, LME nickel inventories grew to 333,800 tonnes. 
 
SMM also expects China’s refined nickel exports to remain high in August.  
 
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