Author: Paul Ploumis
28 Oct 2014 Last updated at 06:17:37 GMT
BEIJING (Scrap Monster): A metal analyst, based in Beijing stated that, the monthly imports of nickel in China, might be staying around at 4 million tonnes, and the chances of declining further are also more. He further added that, the Philippine based nickel manufacturers might not be also interested in selling their metal as the price is declining down and the demand is slumping further lower.
According to the data, which was published last week by the General Administration of Custom, the Chinese import of nickel in the month of September, declined down lower up to 30.5 percent, per year, and further calculations show that, the per month decline is to be 14.4 percent, which is estimated at 4.64 million tonnes of nickel.
After the export ban imposed by Indonesia on unprocessed nickel ore, Philippines became the main source o0f nickel for China, and the nickel exports from the Philippines rose to 27 percent at the beginning of the year, but then gradually declined to 15 percent in September, to 4.52 billion dollars.
According to the analysts, the imports will definitely decline by the coming of the monsoon, and the declining demand for nickel is also not an encouraging sign. The monsoon will affect the shipment of nickel from the Philippines until the end of March.