Indonesia's RKAB approval is slow and superimposed on the Spring Festival effect, ferronickel imports in February fell 17% month-on-month

Among them, nickel pig iron imports from Indonesia were 844,000 tons, up 11.43% month-on-month and 78.18% year-on-year. In February, nickel pig iron imports were 736,000 tons, down 17.27% month-on-month and up 30.45% year-on-year. Among them, nickel pig iron imports from Indonesia were 719,000 tons, down 14.78% month-on-month and up 45.28% year-on-year. From January to February 2024, China's total nickel pig iron imports were 1.626 million tons, an increase of 564,000 tons year-on-year, with a growth rate of 53.1%. Among them, nickel pig iron imports from Indonesia were 1.564 million tons, an increase of 610,000 tons year-on-year, with a growth rate of 63.9%. While nickel pig iron imports in January were relatively high in recent years, the scale decreased significantly in February, mainly due to delays in the approval of Indonesian nickel mines and the impact of the Chinese New Year holiday in February. With the acceleration of the approval process for Indonesian nickel mines, nickel pig iron imports from Indonesia are expected to gradually recover.