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(under review) [SMM brief Review] the year-on-year decline in nickel ore imports in April is obviously expected to ease in June.
May 29,2020 18:13CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

According to data released by the General Administration of Customs, China imported 1.337 million tons of nickel ore and its concentrate in April, down 65.8 percent from the same period last year, according to data released by the General Administration of Customs. Among them, the Philippines is the largest supplier of nickel ore and its concentrates to China, with China importing 1.088 million tons from the Philippines in April, down 40.8 per cent from the same period last year. China's unwrought nickel imports fell 47.78 per cent year-on-year to 9981.40 tonnes in April. China imported 240713.36 tons of ferronickel in April, up 56.9 per cent from a year earlier. Among them, Indonesia remains the largest supplier of China's nickel and iron imports, importing 188004.22 tons from the country in April, nearly doubling from a year earlier.

According to SMM, imports of nickel mines fell sharply in April compared with the same period last year, and nickel exports gradually recovered in May, with total imports expected to be about 2.2 million nickel tons, up 63 per cent from the previous month and down 35 per cent from a year earlier. The physical import volume may return to constant in June, but due to the obvious decline in the average grade of nickel ore, the imported metal volume may still decline compared with the same period last year. The inventory of nickel mines in seven major ports across the country has declined continuously, and the situation may be alleviated in June. The import volume is difficult to meet the demand in the short term, the inventory continues to decline, and the ironworks have a high enthusiasm for grabbing goods. At this stage, there is almost no supply market in May, and most of them are preemptively acquired by large households. As for Ferro Nickel, market participants generally believe that the sudden increase in Ferro Nickel imports in March is related to the early inventory shipments of large local factories in Indonesia, which will be adjusted back to normal levels from April to May according to the survey. For imports of ferronickel (including NPI and FeNi) in the third quarter, SMM is expected to rise to 143600 tonnes, up 10 per cent from expectations for the second quarter.

Appendix to the chart: (hint: due to the different time of customs declaration cycle in different versions of customs statistics, monthly data may vary)

The following is a breakdown of Ferro nickel imports in April based on the official website of the General Administration of Customs of China:

The following is a breakdown of unwrought nickel imports in April based on the official website of the General Administration of Customs of China:

The following is a breakdown of Ferro nickel imports in April based on the official website of the General Administration of Customs of China:

Related readings:

China's imports of nickel ore and its concentrate fell 65.8 per cent in April from a year earlier to 1.337 million tons.

China's unwrought nickel imports fell 47.78% from a year earlier to 9981.40 tons in April.

China's imports of iron and nickel in April were 240713.36 tons, up 56.9 per cent from a year earlier.

 

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