[SMM Analysis] Nickel sulphate imports decreased in June

According to the latest data from the General Administration of Customs, China's nickel sulphate imports were 3,244 mt in nickel content in June, down 44% MoM but up 100% YoY. China's nickel sulphate exports were 888 mt in metal content, up 27% MoM but down 60% YoY. The net imports were 2,952 mt in metal content, down 45% MoM but up 227% YoY. The decrease in imports was mainly from Indonesia and South Korea. Due to the high port arrivals from Indonesia in May and stable production of Indonesian nickel sulphate, the net imports of nickel sulphate slightly decreased in June, which was basically in line with the expectations in May.