The head of the nickel ore mining association said that the export volume of nickel ore in Philippines this year is estimated to be 3000-3500 tons. The main reason is that the price is not satisfactory. Philippines's nickel ore exports in 2017 amounted to 36 million tons.
Dante Bravo, President of the Philippines Nickel Industry Association, said on Tuesday: "on the whole, we expect that this year's exports will fall from the same year, because the price of low-grade nickel is low."
Philippines is the world's second largest supplier of nickel ore after Indonesia.
The price of London nickel fell to a eight - week low of $13830 on Friday, falling nearly 5% this month, as the increasingly tense trade relations between China and the United States led investors to sell risky assets.
Rodrigo Duterte, President of Philippines, said before that he would soon declare a moratorium on mining production in the country, which would cause damage to the domestic environment.
At present, there are 50 working mines in Philippines, of which 30 are nickel ores. But the industry's contribution to Philippines's GDP is less than 1%, and only 3% of the 9 million hectares are certified by the government as having higher ore reserves.