Chinese customs data show China imported 60,244 tonnes of
ferro-nickel (tax code 72026000, including nickel pig iron,
NPI) from Indonesia in June, implying that
Zhejiang-province-based Tsingshan’s Indonesian NPI
is still being shipped to its Chinese stainless steel facility.
Market participants had thought that less Indonesian NPI would
be shipped to China in June as a result of
Tsingshan’s pilot production that month, believing
that the company’s Indonesian NPI would be fed
into its own Indonesian stainless steel mill, but
the Chinese customs data released on Thursday July
21 revealed the true picture.
Indonesia’s ferro-nickel (including NPI) exports
to China surged after Tsingshan successfully put the second
stage of its NPI project in Indonesia into operation on...