SHANGHAI Chinas nickel ore imports dropped 14.8 percent month on month to 5.42 million tonnes in June amid low domestic nickel pig iron prices.
Nickel pig iron smelters operating rates are low due to the firm price of ore but falling price of the alloy. "It can be expected that ore imports will remain at low levels over the near term," one Shanghai-based trader told AMM sister publication Metal Bulletin.
Chinas nickel pig iron production totaled 32,000 tonnes in June, down 1.5 percent from the previous month and 53.7 percent higher year on year, according to market data provider Shanghai Metals Market Information & Technology Co. Ltd.
Refined nickel imports totaled 10,423 tonnes in June, down 6.4 percent vs. May but 6.1 percent higher year on year.
A version of this article was first published in AMM sister publication Metal Bulletin