Will Production Increase at China NPI Producers Grow Demand for Philippine Ores? SMM Reports

Published: Aug 10, 2017 11:19 (GMT+8)

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The Philippines is expected to export approximately 4.65 million wet tonnes in July, and Ni content in ore exports is estimated at 39,300 tonnes in July.

SHANGHAI, Aug. 10 (SMM) - The Philippines is expected to export approximately 4.65 million wet tonnes in July, and Ni content in ore exports is estimated at 39,300 tonnes in July.

By grade, the Philippines exported 15 ships of high-grade ore, 63 ships of medium-grade ore, and 15 ships of low-grade ore in July.

The exports, though down slightly from June’s, remain high thanks to following factors.

New Mine in Philippine to Add Ore Supply Expectations

First, it is now a peak ore shipment period in Surigao.

Second, high-grade NPI price in China’s domestic market kept rising after a recovery from late June, and utilization rates at domestic RKEF NPI producers rose to 73 per cent in July, growing buying demand for ore. The rate at domestic low-grade NPI producers also grew in July, up to 53 per cent, thanks to higher margins.

Third, profits at mines also improved with rising ore price.

Those factors will also support ore shipments from the Philippines in August.

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nickel prices nickel ore prices china nickel ore inventories

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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