[SMM Analysis] February Nickel Sulphate Imports and Exports

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According to the latest data from China Customs, in February 2025, China's total imports of nickel sulphate reached 3,613 mt (metal content), up 17% MoM and 13% YoY. Exports of nickel sulphate from China were 129 mt (metal content), an increase of 13% MoM but a decrease of 44% YoY. In February 2025, China's net imports of nickel sulphate stood at 3,483 mt (metal content), growing 17% both MoM and YoY. The growth in exports this month was mainly driven by South Korea and Singapore, while the increase in imports came primarily from South Korea, Finland, Thailand, and Australia. The net import volume of nickel salts increased, consistent with last month's expectations.

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