Imports of Nickel Ore May Rise and Remain High Before the Rainy Season

Published: Oct 17, 2022 15:18 (GMT+8)

Source: SMM

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Due to the National Day holiday, there was no accurate data on the arrivals of nickel ore at all domestic ports during this period.

SHANGHAI, Oct 17 (SMM) - Due to the National Day holiday, there was no accurate data on the arrivals of nickel ore at all domestic ports during this period. But by calculating the existing arrivals at some ports, SMM estimated that the arrivals of nickel ore at the domestic ports were about 1.2717 million wmt in the week of September 30 and about 1.6856 million wmt in the week of October 7. The arrivals of nickel ore rose steadily from the previous year. In terms of ports, the arrivals of nickel ore at Beihai Port and Lanshan Port increased significantly.

As the rainy season gradually approaches in the Philippines, the nickel ore purchased by NPI plants and steel mills in the early stage gradually arrives. Therefore, the subsequent arrivals of nickel ore will remain high and the nickel ore imports may have increased in September. The demand for NPI from stainless steel mills increased as their production was ramped up, hence the NPI prices rose stably. In this scenario, NPI plants were more willing to accept high-priced nickel ore, and the prices of ore stabilised and increased. In the long term, the arrivals of nickel ore will gradually decrease due to the limitation brought about by poor weather conditions during the rainy season, and the supply of nickel ore will remain tight.

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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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