[SMM Analysis] October Nickel Sulphate Trade Trend Analysis

According to the latest data from China Customs, in October 2024, China's total nickel sulphate imports were 2,266 mt (metal content), down 8% MoM and down 26% YoY. China's nickel sulphate exports were 497 mt (metal content), down 32% MoM and up 18% YoY. In October 2024, China's net imports of nickel sulphate were 1,768 mt (metal content), down 56% MoM and down 28% YoY. The decrease in exports in October mainly resulted from countries such as Vietnam and Japan, while the decrease in imports was mainly from countries such as South Korea and Finland. The net imports of nickel salts decreased in October, which was basically in line with expectations from the previous month.