Imports of Nickel Ore Fall in December 2022 as the Rainy Season in the Philippines Restricts Ore Shipments

Published: Feb 14, 2023 15:50 (GMT+8)

Source: SMM

Save

According to customs data, China's imports of nickel ore totalled 2.76 million mt (wmt and dmt mixed) in December 2022, down 33.9% MoM and up 44% YoY.

SHANGHAI, Feb 14 (SMM) - According to customs data, China's imports of nickel ore totalled 2.76 million mt (wmt and dmt mixed) in December 2022, down 33.9% MoM and up 44% YoY. At the same time, the stock of nickel ore at ports also maintained a downward trend. The import volume of nickel ore totalled 40.24 million mt throughout 2022, down 7.6% from 2021, which was mainly contributed by the downturn in the NPI and stainless steel markets in the year. In detail, imports of laterite nickel ore stood at 2.72 million mt in December, a month-on-month decrease of 34% but a year-on-year increase of 43.1%. The volume of nickel ore shipped from the Philippines was 1.98 million mt, down 22.7% from the previous month. Ore shipments from mines in the south of the Philippines were limited by the poor weather conditions. Meanwhile, some new mines in the north shipped some goods, which alleviated the shortage of nickel ore to a certain extent. On the demand side, NPI prices rebounded. Although the CIF prices of nickel ore have not fluctuated significantly, the mines still can gain profits amid the dropping ocean freight and are more willing to ship. Imports of sulphide ore totalled 39,600 mt in December 2022, down 24.5% MoM. Nickel ore imports are expected to remain at similarly low levels in January 2023.

Import/Export

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

[SMM Nickel Flash News] Indonesia Update — October 5, 2026

Indonesian nickel ore CIF average prices remained broadly stable, with the latest SMM assessment: 1.2% Ni: CIF price at $25.5/wmt, unchanged 1.3% Ni: CIF price at $27.5/wmt, unchanged 1.4% Ni: CIF price at $48.7/wmt, unchanged 1.5% Ni: CIF price at $54.2/wmt, unchanged 1.6% Ni: CIF price at $59.0/wmt, unchanged In the upstream market, nickel ore prices have weakened from late-September levels as additional RKAB quotas gradually enter the market and sellers face increasing pressure to adjust prices. SMM reported that discounts have officially emerged, with some ore prices falling below the HPM benchmark. Meanwhile, the first-half October nickel HMA was reduced to $16,322.67/mt, down $375.33/mt, or 2.25%, from the second-half September HMA of $16,698/mt.

4 hours ago

【SMM Nickel Flash News】Nickel Weather Risks Remain Manageable on October 5–11

Weather conditions across major nickel-producing and logistics areas in the Philippines, Indonesia and China are expected to remain generally manageable on October 5–11, with localized weather potentially causing short-term operational disruptions. In the Philippines, Palawan and Surigao may see scattered rain and thunderstorms on October 6–7, while rainfall could increase in Eastern Visayas and Mindanao on October 8–9, posing temporary risks to mine-road transport, ore barging and vessel loading. In Indonesia, Morowali and Konawe are expected to remain relatively stable, with low rainfall and no significant storm activity. Halmahera and Obi may see occasional rain and stronger winds, which could briefly affect marine logistics. In China, major nickel ore receiving ports are expected to remain largely operational, although localized rain and stronger winds could cause brief delays to vessel handling and cargo transportation.

4 hours ago

9 hours ago

[SMM Nickel Flash News] Unrest at PT Askon in Morowali Raises Concerns

On October 2, protests over mining-related dust and environmental impacts escalated into unrest at PT Astima Konstruksi (PT Askon) in Matarape Village, Morowali Regency, Central Sulawesi, Indonesia. Local media reported that protesters burned several vehicles and excavators, while access to the company's hauling road and jetty was blocked, disrupting material transportation. Police subsequently evacuated Chinese nationals from the site. The incident has raised concerns over potential disruptions to nearby nickel mining and logistics activities. However, as of October 5, no confirmed reports have established the extent of production suspensions or reductions at specific nickel mines. Further attention should be paid to the restoration of transportation access, local security conditions, and any subsequent impact on nickel ore supply.

9 hours ago