SHANGHAI, Sept. 24 (SMM) – China’s imports of nickel ore are expected to drop in the coming months after August’s decline, to enter its periodic decline phase, Shanghai Metals Market foresees.
“Shipment from the Philippines is expected to be disrupted by heavy rains in the country’s major ore producing regions, in addition to negative impact from sluggish prices and environment protection inspections on mines,” SMM nickel analyst says.
According to SMM data, the Philippines has become the largest supplier of nickel ore to China after Indonesia’s ore export ban in early 2014.
“Monthly imports from the Philippines in July and August are always year’s peak level, as the country’s major ore producing region enters its monsoon season,” SMM points out.
Inbound shipments of nickel ore were 3.90 million tonnes in August, down 28.33% month-on-month, and down 22.67% year-on-year, according to China Customs data.
“China will also see an acceleration of decline in nickel ore inventories at China’s major ports after imports’ drop,” SMM expects.
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