[SMM Analysis] Nickel Salt Exports Continued to Decline MoM

According to the latest data from China Customs, in July 2024, China's nickel sulphate imports totaled 2,997 mt (Ni contained), down 8% MoM, up 13% YoY. China's nickel sulphate exports were 669 mt in metal content, up 129% MoM, up 943% YoY. In July 2024, China's net imports of nickel sulphate were 2,327 mt in metal content, down 21% MoM, down 21% YoY. The increase in exports in July was mainly driven by countries such as Japan and Indonesia. The net import volume of nickel salt slightly decreased in July, which was basically in line with expectations in June.