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.
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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