According to customs statistics released last week China imported 16.575 million tonnes of nickel ore in 2009, up by 34% YoY compared with 2008.
The main sources into China were: Philippines 8,783,000 tonnes, up 2.18 times from 2008 and Indonesia: 7,237,000 tonnes. New Caledonia was the third largest source of nickel ore for China in 2008 but China bought no nickel from New Caledonia in 2009 as its supplier, SMSP, is exporting its production to a new joint venture with POSCO of South Korea to produce ferronickel at a new refinery in South Korea.
The average unit prices for 2009 were Philippine ore: at USD 31.7 per tonne CIF and Indonesian ore: at USD 44.8 per tonne CIF. On the basis of these unit prices on material base, nickel contained in these two ores has been presumed to be 1.5% to 1.75% for Philippine ore and 1.7% to 2% for Indonesian ore.
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