China Nickel Trade Shifts as Ore Imports Drop, Ferronickel Rises

China’s imports of nickel ore and refined metal dropped in July, while overseas purchases of an intermediate form of the raw material surged, signalling the shifting mix of shipments into the world’s top stainless-steel producer.

Inbound shipments of ore were 3.29 million metric tons, down 34 percent from about 5 million tons a year earlier, while imports of refined metal dropped 41 percent to 27,129 tons, according to Chinese customs data Wednesday. Overseas purchases of ferronickel jumped 56 percent to 92,240 tons, the second-highest on record, as Indonesian shipments rose more than fivefold.