PPI Business News
China Customs: China imported 6.21 mln t of nickel laterite in September, up by 2.46 mln t on-month but down by 880.5 kt on-year. China imported 27.26 mln t of nickel laterite during the first three quarters of 2020, down 29.95% y-o-y. Of this figure, 3.04 mln t was from Indonesia, down 79.48% y-o-y.
Domestic NPI smelters typically build up inventory in September before the Q4 onset of the rainy season in the Philippines. At present, nickel shipments have slowed at the major mining area Surigao, and some miners have already suspended shipments. As a result, domestic nickel laterite supply is expected to fall short in Q4 2020.