SMM analysis of nickel ore imports in March 2024

According to customs data, China's imports of nickel ore stood at 1.5421 million mt in March, up 26% MoM but down 27% YoY. Specifically, nickel sulphide ore was about 65,900 mt, up 3.4% MoM, and nickel oxide ore at 1.4762 million mt, up 27.3% MoM. China imported 1.1947 million mt of nickel ore from the Philippines, up 47.7% MoM, versus 186,400 mt from New Caledonia (up 2.6% MoM), and 8,500 mt from Australia (down 17.4% MoM).