SMM Analysis On Nickel Sulphate Import And Export Data In January-February 2024

SHANGHAI, Apr 3 (SMM) – According to customs data, China’s nickel sulphate import stood at 4,338 mt in nickel content in January, up 69% MoM and 201% YoY, and export at 516 mt in metal content, up 88% MoM and 20765% YoY. The net import reached 3,822 mt in metal content in January, up 66% MoM and 166% YoY. The conversion of a hydro-metallurgy intermediate product project in Indonesia to produce nickel sulphate for export to China contributed to the growth in imports.

In February, China’s nickel sulphate import stood at 3,201 mt in nickel content, down 26% MoM and up 75% YoY, and export at 230 mt in metal content, down 55% MoM and up 4418% YoY. The net import reached 2,971 mt in metal content in February, down 22% MoM and up 63% YoY. The decline in China’s import in February was mainly caused by the decreased nickel sulphate export to China after the recovery of precursor production in South Korea. Affected by the stable increase in nickel sulphate from Indonesia to China, net import is expected to remain stable in March.