Shanghai Nonferrous Metals News
China imported 2.68 mln t of nickel laterite in January 2020, down 1.64 mln t or 38% on-month but up 7.4% on-year. Indonesian imports were 1.38 mln t, down 44% on-month and down 11.9% on-year; Philippine imports were 1.01 mln t, down 34.1% or 526 kt on-month but up 42.9% on-year, due to the rainy season interrupting shipments.
SMM forecast China’s nickel laterite imports will continue to drop in February as a result of limited stocks in Indonesia (due to restrictions on raw ore exports) and to the rainy season in the Philippines together with the 14-day quarantined requirement on Chinese cargo ships further delaying shipments.
