China's nickel ore imports in November were 5.259 million mt, down 11.8% MoM

Published: Jan 12, 2024 15:07

Source: SMM

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China's nickel ore imports in November 2023 fell to 3.8688 million mt, down 26.4% MoM and 7.2% YoY, matching SMM's forecast.

China's nickel ore imports in November 2023 fell to 3.8688 million mt, down 26.4% MoM and 7.2% YoY, matching SMM's forecast. The drop is due to Sulawesi's rainy season start and completed stockpiling by domestic NPI factories, lessening monthly imports. The NPI market slump has led to significant losses for high-grade NPI smelters in China, with some halting for maintenance, reducing nickel ore demand and YoY import declines. November laterite nickel ore imports were 3.8412 million mt, down 26% MoM and 6.7% YoY. Philippine imports, at 3.2524 million mt, fell 33% MoM. October's nickel sulfide ore imports slightly rose by 2.7% to 27,600 mt. With Sulawesi's rainy season extending into December, China's nickel ore imports are expected to keep declining in Q4.

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