China's imports of Indonesian ferronickel decrease in Sep, domestic ferronickel market in surplus
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Update time : 2023-10-30 17:03:44
In September 2023, China's ferronickel imports fell by 6.7% month on month, of which the decline in imports from Indonesia expanded to 8.3%. The decline in ferronickel imports in September was mainly affected by two factors.
One was reduced return flow at some Indonesian ports because China's current stocks of raw materials were sufficient. Another reason is that the production reduction of steel mills and increased scrap stainless steel prices have weakened the demand for ferronickel.
Although ferronickel imports fell in September, China's domestic ferronickel market still has a surplus of 30,000 metal tons of ferronickel. In addition, the Indonesian ferronickel production line is still under construction. Therefore, the return flow of Indonesian ferronickel was expected to be hard to decrease in the future.
