According to customs data, China's nickel iron imports totaled 895,500 mt in physical content in November 2025, down 1.1% MoM but up 1.4% YoY.

[High-grade NPI Import Data] According to customs data, imports of both NPI and FeNi increased in September. Supported by the traditional peak season, stainless steel production schedules rose steadily, boosting demand for raw materials and driving both MoM and YoY growth in NPI and FeNi imports in September. China's total NPI imports in September 2025 reached 1.0552 million mt in physical content, up 24.1% MoM and 47.6% YoY. FeNi imports totaled 30,100 mt in physical content, up 26.6% MoM and 34.9% YoY.

According to customs data, China's nickel pig iron imports totaled 1.0853 million mt in physical content in September 2025, up 24.2% MoM and 47.2% YoY.

To facilitate use by nickel industry chain clients, meet the broad user demand for FeNi prices, and enhance market transparency, SMM has decided: Starting from October 13, 2025, to publish SMM FeNi price points by grade, with the following new price points added: - 15-20% FeNi ,DDP China,USD/nickel unit - 20-25% FeNi ,DDP China,USD/nickel unit - Ni≥30% FeNi ,DDP China,USD/nickel unit