SHANGHAI, Feb 12 (SMM) – Nickel ore exports from the Philippines and Indonesia are expected to rise in February due to better weather condition in both countries and restocking need at Chinese nickel pig iron (NPI) producers after the country’s week-long new year holiday, SMM believes.
We also see Indonesian 1.65% Ni ore to trade at $41.5-45/wmt cifr China this month.
In January, nickel ore exports from the Philippines were estimated at 830,000 wmt, according to a SMM survey. This would translate to 7,100 mt in Ni content, down 66% on a monthly basis.
Indonesia exported 22 vessels of ore, or 1.25 million mt last month, up about 55% from levels seen in December. In Ni content, this was estimated at 12,300 mt, slightly lower than usual as bad weather affected the loading rates.
Nickel ore exports in January from the two countries were estimated to be down 36% from levels seen in December.
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