SHANGHAI, Aug. 23 (SMM) – In July, outbound shipments of nickel ore from the Philippines grew 5 per cent on a monthly basis, Shanghai Metals Market survey finds.
The Philippines exported 5.57 million tonnes of nickel ore in July, up 260,000 tonnes or 5 per cent from June, with 90-92 per cent of those ores going to China, according to SMM survey.
“The rise in exports is due mainly to robust stock-piling by NPI producers, rising high-grade NPI prices and stable shipments from Surigao,” SMM nickel analyst says.
The Department of Environment & Natural Resources of the Philippines (DENR) reported it had shut down seven nickel mines as of August 4. So far, nickel ore shipments from the Philippines are believed to have been barely hurt by the shutdown or inspections at the mines, SMM notes.
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