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China Sept nickel ore imports rise to highest since 2016 as Indonesia ban looms

Published 10/25/2019, 11:41 AM
Updated 10/25/2019, 11:48 AM
China Sept nickel ore imports rise to highest since 2016 as Indonesia ban looms

* Total Sept nickel ore imports at 7.13 mln T, up 24.6% m/m
* Volumes from Indonesia rise 56% from Aug to 2.51 mln T
* Jakarta to ban nickel ore exports from Jan 2020

BEIJING, Oct 25 (Reuters) - China's nickel ore imports in
September rose 24.6% from the previous month to their highest
since at least 2016, customs data showed on Friday, as
stockpiling accelerated ahead of a ban on shipments from top
miner Indonesia from January 2020.
China imported 7.13 million tonnes of nickel ores and
concentrates in total last month, according to data released by
the General Administration of Customs.
That was 24% higher than a year earlier and the highest
monthly total in records on the customs database website going
back to January 2017.
Indonesia confirmed on Sept. 2 it would expedite a ban on
nickel ore exports by two years to the start of 2020 as it seeks
to process more of its resources at home. There were signs of stockpiling by China's stainless steel
mills, which use nickel as a raw material, in August amid
rumours of the ban but confirmation led to a bigger rush for ore
in September, traders said.
China's nickel ore imports from Indonesia last month were
2.51 million tonnes, up 56% from August and up 47.5% from
September 2018. That was also the highest volume since at least
2016.
Meanwhile, shipments from the Philippines, an alternative
supply source to Indonesia but with lower-grade ore, were 4.39
million tonnes in September, up 10% from the prior month and up
14.5% from the prior year period. That was the highest since
August 2018.

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