Monday, August 10, 2015

How New Caledonia’s export ban hit Chinese Nickel ore market?

How New Caledonia’s export ban hit Chinese Nickel ore market?
Indonesia introduced an export ban on nickel ore since early 2014, and now, New Caledonia decided to place a nickel ore export ban to China. 

How the ban will affect China’s nickel ore market? 

Last week, foreign media reported the heads of the national and local governments along with mining executives’ vetoed exports of nickel laterites to China because of New Caledonia's long-standing supply agreements with Australia.

“The New Caledonia nickel export to China will have a negligible effect as exports of nickel ore from the country are very small,” SMM’s nickel analyst says

China imported 14.57 million ton of nickel ore during the first half of 2015, down 36.87% year-on-year, with 96.79% of imports from the Philippines, and 0.79% from Australia, the second-place supplier, according to China Customs. 

So far, the country has placed no ban on ferronickel export to China. In June, China imported 62,500 ton of ferronickel, with 10,482 ton of imports from New Caledonia, up nearly 3-folds to rank second, according to China Customs.

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