Page 43 - Import Export News Today

SHANGHAI, Jul 27 (SMM) – Eddy Soeparno, Deputy Chairman of the House of Representatives (DPR RI) Commission VII, said that with its large nickel resources and reserves, Indonesia has the opportunity to become a major player in the raw material supply chain for future battery electric vehicles.

The customs inspection of imported aluminium scrap has been relaxed since late June. According to the latest customs data, in June 2022, 124,600 mt of aluminium scrap were imported, an increase of 220.3% year-on-year and a month-on-month increase of 23.67%. Imports in the first six months of 2022 totalled 630,400 mt, a year-on-year increase of 55%.

SHANGHAI, Jul 26 (SMM) - SMM data showed that a total of 84 ships arrived at major ports in China from July 18 to July 24, carrying 12.41 million mt of iron ore, up 930,000 mt on a weekly basis and 670,000 mt from a year ago.

Vietnam and Australia enjoyed strong growth in two-way trade in the first half of this year at 38.45% to 8.01 billion USD for the first time, according to the Vietnam Trade Office in Australia.

On the fundamentals, the mining activities in China proceeded in an orderly manner in June, and the operating rates of midstream smelters remained above 80%, alluding stable overall market demand. Therefore, the total amount of tungsten concentrate imported in June was relatively flat over that in May.

The import volume of light rare earth ore increased significantly. Among them, the import volume of rare earth metal ore was 6,786 mt, up 82.2% month-on-month, all of which came from the United States.

SHANGHAI, Jul 22 (SMM) - According to customs data, China imported 7,000 mt of cobalt raw materials in metal content in June, a month-on-month decrease of 1% and year-on-year drop of 9%.

China imported 6,786 mt of rare earth ore in June, up 55.3% month-on-month. The import volume of light rare earth ore increased significantly, while the import volume of rare earth metal ore was 6,786 mt, up 82.8% compared to last month, all of which came from the United States.

To sum up, under the circumstances of normal supply in China, petcoke arriving at ports will fall 100,000-300,000 mt in July amid downstream purchases on rigid demand and poor industrial profitability.

As such, given that India is the main importer of Chinese coke in June, the demand may contract as some Indian mills are preparing to reduce the production.