SHANGHAI, Sept. 6 (SMM) – Nickel ore exports from the Philippines are estimated at 4.77 million wet tonnes in August, largely flat at July’s level, Shanghai Metals Market survey finds.
In August, Philippine nickel ore exports in Ni content are estimated at 39,800 tonnes, up 1.2 per cent on a monthly basis. The Philippines exported 10 ships of high-grade ore, 65 ones of medium-grade ore, and 15 ones of low-grade ore in August.
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Exports of high-grade nickel ore are below estimation due to poor weather, and may be delayed to September.
The following factors explain high exports in August. First, August was still a peak ore shipment period in Surigao, the Philippines. Second, utilization rates at domestic RKEF NPI producers grew to 77.6% in July as NPI price kept rising, so purchasing demand for ore remained high. The rate at domestic low-grade NPI plants rose to 55.2% in August due to moderate profits. Third, higher ore price also helped improve profits at mining firms.
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SMM expects nickel ore shipments from the Philippines to stay at highs in August and September.
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