[China's refined nickel imports increased both MoM and YoY in April 2025, with net imports turning positive] In March 2025, according to data released by the General Administration of Customs, China's refined nickel imports (including unwrought non-alloy nickel with a total nickel and cobalt content of ≥99.99% and cobalt content of ≤0.005%, other unwrought non-alloy nickel, and unwrought nickel alloys) reached 19,157 mt, up 116.92% MoM from March, up 135.76% YoY, and up 127.88% YoY on a cumulative basis.

On April 23, at the CCIE 2025 SMM (20th) Copper Industry Conference & Copper Industry Expo - Main Forum, hosted by SMM Information & Technology Co., Ltd., Tong Qingping, Chief Scientist and PhD of China Nonferrous Metal Mining (Group) Co., Ltd., analyzed the current development status and high-quality development trends of China's copper processing industry.

Data from the Customs Statistics Online Query Platform showed that China's imports of unwrought nickel in March 2025 reached 8,559.429 mt, up 8.37% MoM and 30.03% YoY. Russia was the largest supplier, with imports of unwrought nickel from Russia totaling 1,919.5 mt, up 32.65% MoM and 29.76% YoY. Indonesia was the second-largest supplier, with imports of unwrought nickel from Indonesia reaching 1,902.216 mt, up 13.12% MoM and 71.12% YoY. Below is a breakdown of unwrought nickel imports in March 2025 based on data from the General Administration of Customs of China: Note: 1. Unwrought nickel includes unwrought non-alloy nickel with a total nickel and cobalt content ≥99.99% by weight and cobalt ≤0.005%; other unwrought non-alloy nickel; and unwrought nickel alloys. 2. The total import volume (total) also includes data from origins not listed in the above table.

In March 2025, China's imports of refined nickel (including unwrought non-alloy nickel with a total nickel and cobalt content ≥99.99%, cobalt ≤0.005%, other unwrought non-alloy nickel, and unwrought nickel alloys) reached 8,832 mt, up 8.18% MoM from February and up 34.16% YoY, with a cumulative YoY increase of 124.56%. Net imports remained negative, according to data released by the customs statistics platform.

[Jiangsu Delong Bankruptcy Incident and Reflections Behind It: The Collapse of a 100 Billion Yuan Steel Enterprise Amid the Suspension of the Indonesia Project] This week, nickel prices continued to decline, with spot prices fluctuating between 124,100 and 129,150 yuan/mt, while SHFE nickel futures prices ranged from 123,000 yuan/mt to 127,950 yuan/mt.

[Nickel Alloy and Special Steel Market Dynamics in the Half-Month After the Holiday: Comprehensive Analysis of the Cost Side, Demand Side, and Supply Side] Recently, nickel prices have been continuously declining due to the combined influence of macro and micro factors. Nevertheless, the demand for nickel alloys in high-end sectors has remained steadily growing, while demand in the new energy sector is expected to see some marginal improvement in Q3, which may drive an increase in nickel alloy demand. Moving forward, close attention should be paid to the implementation of domestic and international policies to address potential market risks.

[Market Dynamics of Nickel Alloy and Special Steel in the Half Month After the Holiday: Comprehensive Analysis of the Cost Side, Demand Side, and Supply Side] Recently, nickel prices have been continuously declining due to the combined influence of macro and micro factors. Nevertheless, the demand for nickel alloys in high-end sectors has remained steadily growing, while demand in the new energy sector is expected to see some marginal improvement in Q3, which may drive an increase in nickel alloy demand. Moving forward, close attention should be paid to the implementation of domestic and international policies to address potential market risks.

According to the customs statistics platform, in November 2024, China's imports of refined nickel (including unwrought non-alloy nickel with a total nickel and cobalt content ≥99.99% and cobalt ≤0.005%, other unwrought non-alloy nickel and unwrought nickel alloys) amounted to 9,483 mt, down 8% MoM and up 32% YoY.

According to the customs statistics platform, in July 2024, China imported 4,752.727 mt of refined nickel (including unwrought non-alloy nickel with a total nickel and cobalt content ≥99.99% and cobalt ≤0.005%, other unwrought non-alloy nickel, and unwrought nickel alloys), a decrease of 39% MoM and 54.12% YoY.

[SMM Analysis: Negative Clearance Volume of Pure Nickel in July Widened, with Expected MoM Decline in Exports in August] According to the customs statistics data platform, China's imports of refined nickel (unwrought non-alloy nickel with a total nickel and cobalt content ≥99.99% and cobalt ≤0.005%, other unwrought non-alloy nickel, and unwrought nickel alloys) in July 2024 totaled 4,752.727 tons...