China's Nickel Ore Imports in November Reached 3.245 Million mt, Down 16.13% YoY

According to the latest data from Chinese customs, China's nickel ore imports in November 2024 amounted to 3.245 million mt, down 23% MoM and 16.13% YoY, with cumulative imports down 14.93% YoY. Among these, sulfide ore imports were 54,500 mt, while oxide ore imports were 3.19 million mt. From the perspective of major import sources, imports from the Philippines were 2.887 million mt, while imports from other countries accounted for 358,000 mt. The Philippines remained the largest source of nickel ore imports for China. However, due to the rainy season in southern high-grade nickel ore mining areas, shipments were hindered, leading to a further decline in the grade of Philippine ore imported by China and a significant reduction in import volumes.