SHANGHAI, Aug. 16 (SMM) – The monsoon season is around the corner in Surigao, the Philippines, and Chinese NPI producers usually enter the market in preparation for stockpiling.
SMM surveys find that most of NPI producers are busy in requiring goods, but some ones in south China have no stockpiling plans, only building normal inventories.
SMM attributes this to following factors. First, current ore prices are high, growing their worries on goods purchases at highs. Second, ore shortages may not be as tight as that seen last year as Indonesia has allowed ore exports. Third, ore shipments from Surigao, the Philippines will fall in the monsoon season, but other mines will keep outward shipments.
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