The customs clearance volume of refined nickel increased significantly in April, exports are expected to rise in May

According to customs data, in April, China imported 8,126 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 alloy), up 23.44% MoM and 141% YoY. Among them, the imports of other unwrought non-alloy nickel were 6,278 mt, up 154.49% YoY. Additionally, the imports of non-alloy nickel powder and flake powder (HS code 75040010) in April were 246.815 mt, down 87.28% YoY. Regarding nickel briquettes, the imports in April were 1,277 mt, down 54% YoY. The main destinations of refined nickel in April were Russia, Norway, and Japan.

The customs clearance volume of refined nickel in April was 1,793 mt, a significant increase compared to March, primarily as cargoes under long-term orders began to be shipped to the domestic market from April.

Refined nickel exports fell in April, which was mainly due to a decrease in production by some domestic nickel companies, which failed to meet the original export targets. In summary, as overseas nickel futures prices gained more than domestic ones, the customs clearance volume of refined nickel may continue to decline in May, while the exports will continue to increase.