According to customs statistics recently released, China imported 1,700,000 tonnes in material of nickel ores in the January to March quarter of 2009, down by 52% compared with 3,550,000 tonnes in the same quarter of 2008.
Also the unit price of nickel ores imported from the Philippines and Indonesia into China in the beginning of May and discharged at such main Chinese ports as Rizhao, Lianyungang and Lanshan were at CNY 260 to 280 per wet tonne of material on a CIF base.
For reference, the unit prices of nickel ores imported into China in May of 2008 were at CNY 880 per wet tonne CIF for Philippine ore and CNY 760 per wet tonne CIF for Indonesian ore a fall of two-thirds in comparison with those in the same month of 2008.
In order to fix the price of nickel ore containing 2% min of Ni to be imported into China, the country has adopted the formula linked with the LME nickel price which Japan has already applied, but the price of low grade nickel ore, containing less than 1.8% of Ni has been settled for each case through mutual negotiation.
According to customs statistics released in China, in January to March quarter of 2009, the country imported 726,000 tonnes in material of nickel ore from Philippines and 804,000 tonnes from Indonesia. China had nil of nickel ore to be imported from New Caledonia in January to March quarter of 2009.
Source: Steel Guru
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