Nickel Ore Imports Up 7.2% MoM in July, Philippine Shipments Continued to Increase in August

SHANGHAI, Sep 16 (SMM) - Customs data showed that China imported 5.19 million mt (wet and dry mt mixed) of nickel ore in July, up 7.2% month-on-month and 5.8% year-on-year.

Imports from the Philippines stood at 4.78 million mt (wet and dry mt mixed) in July, up 9.6% month on month and 8.7% year on year. Imports from New Caledonia fell 51.9% on the month to 150,000 mt (wet and dry mt mixed). The import volumes from other countries have not changed much.

Shipments from the Philippines remain in the peak period. But the onset of the wet season in some mining areas combined with the current pandemic situations have affected offloading at ports. Therefore, shipments in August are expected to have declined slightly compared to July.

Customs data showed that China imported 7.2 million wmt of nickel ore in July. The Philippines is expected to have exported 6.49 million wmt of nickel ore in August, including 4.4 million wmt of medium-grade nickel ore and 2.31 million wmt of low-grade nickel ore. Imports of nickel ore remained at a relatively high level in August.

Overseas mines were actively shipping cargoes amid strong domestic demand and high ore prices. However, the impact from typhoons is likely to delay shipments from the Philippines in September. The shipments from the Philippines will fall further in November due to the wet season.