Home

Metal News

Nickel

China's Imports of Nickel Ore up but Imports of Refined Nickel Slip in May  

Russia Rusal Inks Deal to Produce New Power Cables with Federal Grid

SHANGHAI, Jun. 22 (SMM)&nbsp;-- According to China Customs, China's imports of nickel ore were2.01 million mt in May, up 9.05% MoM and up 114.39% YoY. China's imports of laterite nickel ore were 1.99 million mt in May, including 1.09 million mt from the Philippines, up 132.5% YoY, as well as 898.68 kt from Indonesia, up 125.15% YoY.&nbsp; These increases in imports were in line with SMM predictions, and the steady MoM growth is mainly due to higher imports of laterite nickel ore. The steady expansion of NPI capacity in China is driving up demand for nickel ore, with many NPI producers preferring to directly import nickel ore themselves, resulting in a large amounts of nickel ore arriving at ports in May.&nbsp; According to SMM data, total inventories of nickel ore in Lianyungang, Rizhao, Lanshan, and Tianjin ports were 8.8 million mt one week before the Dragon Boat Festival.&nbsp; It is expected that imports of nickel ore will remain high in June.
Data from China Customs showed that China's imports of refined nickel in May were 10.719kt, down 35.80% MoM, which is due to unfavorable domestic/LEM nickel price ratio. LME nickel prices were RMB 20,000-30,000 higher than domestic nickel prices, and importers were more cautiously at such great price spread, resulting in significant decline of refined nickel ore importing volumes on a monthly basis.
To contact the writer on this report: <a href="mailto:cracewu@smm.cn">cracewu@smm.cn</a>
&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>
&nbsp;

 Zambian Union To Meet Copper Miners KCM, MCM Over Workers' Safety

China's Imports of Nickel Ore up but Imports of Refined Nickel Slip in May  _SMM | Shanghai Nonferrous Metals

SMM Morning Comments (Sep 22): Shanghai base metals were mostly lower following overnight dollar bounce-back 

SMM Morning Comments (Sep 25): Shanghai base metals were mostly lower on COVID-19 concerns and disappointing US jobless data 

SMM Evening Comments (Sep 21): Shanghai nonferrous metals closed mostly higher, nickel fell 1.99%

SMM Morning Comments (Sep 24): Nonferrous metals fell across the board as the dollar extended gains 

Nine employees in Indonesia's largest nickel industrial park tested positive for COVID-19