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China to See Declines in Refined Nickel Imports, SMM Expects
Aug 19,2016 10:43CST
smm insight
Source:SMM
Inbound shipments of refined nickel to China are expected to fall in July and August, Shanghai Metals Market foresees.

SHANGHAI, Aug. 18 (SMM) – Inbound shipments of refined nickel to China are expected to fall in July and August, Shanghai Metals Market foresees. 

“The decline will be mainly due to bigger import losses,” SMM nickel analyst says.  

Nickel Price to Advance on Positive Market Fundamentals, SMM Says

According to SMM data, the import losses averaged at 3,312 yuan per tonne in July, up 1,776 yuan from June’s 1,536 yuan, depressing import enthusiasm.  

SMM expects imports for July and August to fall to 26,000-30,000 tonnes, and 24,000-28,000 tonnes, respectively. 

China Customs reports China imported 37,127 tonnes of refined nickel in June, down 1.15 per cent month-on-month and 4.21 per cent year-on-year. 

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