China Refined Nickel Imports Keep Falling in June, SMM Reports

SHANGHAI, Jul. 24 (SMM) – China’s imports of refined nickel and alloys were 14,248 tonnes in June, down 27 per cent MoM and 62 per cent YoY, according to China Customs. 

Nickel Import Window Opens, and Import Premiums to Rise, SMM Reports

Domestic stainless steel mills increased production cuts in response to loss expansion in May, reducing import demand. Meanwhile, import losses reached above 1,000 yuan per tonne, depressing import interest. 

China imported 97,600 tonnes of refined nickel and alloys during the first six months of 2017, down 58 per cent on a yearly basis, China Customs showed. 

LME Nickel to Drop, SMM Predicts

SMM attributes the big year-on-year drop in imports mainly to two factors. First, China takes no commercial buying plan this year. Second, with the releasing of NPI output in Indonesian projects, domestic stainless steel mills increased the use of those NPI products, and in turn reduced demand for nickel plate.  

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