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2010 August Ni Imports Data Analysis

iconSep 28, 2010 00:00

SHANGHAI, Sep. 28 (SMM) --

Nickel Ore

According to data from China Customs, total imports of nickel ore were 2.03 million mt in August, down 19.13% MoM, and YTD imports of nickel ore were14.35 million mt, up 61.25% YoY.  Imports of laterite nickel ore during August were 1.97 million mt, including 1.1 million mt from the Philippines, down 26.53%MoM, and 0.87 million mt from Indonesia, down 11.78% MoM.  Indonesia entered into the Ramadan holiday from mid-August, so China’s imports of nickel ore from Indonesia reduced during August. In addition, China’s demand for low-grade nickel ore reduced as some NPI producers with blast furnaces in China halted production during August, leading to significant import reduction of low grade nickel ore from the Philippines MoM.

Nickel

According to data from China Customs, imports of refined nickel were 18.2 kt in August, up by 27.11% MoM, and YTD imports of refined nickel were 120.4kt, down 36.84% YoY.  The Shanghai/LME nickel price ratio became positive in early and mid-June, creating more opportunities for traders to import goods. 

 

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