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Nickel ore imports to China in October decreased by 21.3%

China imported 4.476 million tonnes of nickel ore in October, down 21.3% from September and 12.2% year-on-year, according to Chinese customs data. 4.01 million tons of ore were imported from the Philippines (-22.8% versus September; -12.63% yoy). Ore supplies from New Caledonia amounted to 281 thousand tons (-3.2% versus September).

The decrease in the import of nickel ore to the PRC is mainly associated with the beginning of the rainy season in the Philippines, in particular in the main mining zone in the south of the country - Surigao. The indicator was also affected by a decrease in the volume of customs declarations in connection with the holidays in China in early October.

Import of sulfide ores in October fell significantly - to 29 thousand tons (-47.5% to the previous month).

Supplies of nickel sulphide ores from Russia decreased by 45% versus September, to 13,340 tons. Imports of raw materials from Australia and Zimbabwe decreased by more than 30% in both cases versus the previous month.

It is estimated that nickel imports may continue to decline in November.