SMM Daily Review - 2009/12/7 Copper Market 

SHANGHAI, Sept. 25 (SMM) -- 
Nickel Ore: 
According to China Customs, China's imports of nickel ore were 1.45 million mt during August, up 191.42% YoY, but down 34.07% MoM.&nbsp; Imports from the Philippines were 991kt, while&nbsp; 421kt was imported from Indonesia.&nbsp; MoM declines were mainly from declines in imports of laterite nickel ore.&nbsp; A growing number of NPI producers are restarting idle capacity, and most of the recent arrivals of nickel ore were imported by producers from overseas market directly, leaving nickel ore supply in the market relatively tight. 
Refined Nickel: 
According to China Customs, China's imports of refined nickel were 22.7kt during August, down 52.46% YoY. Prices for imported nickel have been RMB 18,000/mt lower than domestic market prices since May. As a result, traders have gradually reduced imports, resulting in limited supply of imported nickel.
&nbsp;
Copyright &copy; SMM. All Rights Reserved
None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: <a href="mailto:service.en@smm.cn">service.en@smm.cn</a>