China's Imports and Exports of Refined Nickel Both Surge, Net Imports Turn Positive

According to data from China Customs, China's imports of unwrought nickel reached 18,700 mt in April 2025, up 119.02% MoM and 131.01% YoY. From January to April 2025, China's cumulative imports of unwrought nickel amounted to 60,100 mt, up 127.33% YoY. In terms of import trade modes, imports via Ordinary Trade surged to 11,300 mt, imports via Entry and Exit Goods in Bonded Control Areas rose to 1,577 mt, and inflows via Entrepot Trade by Customs Special Control Area increased to 5,606 mt.

In April 2025, China's exports of unwrought nickel stood at 16,700 mt, up 22.58% MoM and 143.33% YoY. From January to April 2025, China's cumulative exports of unwrought nickel reached 64,600 mt, up 198.54% YoY. In April 2025, China's net imports of unwrought nickel were 2,036 mt. The main destinations for domestic refined nickel exports remained Taiwan, China, South Korea, and Singapore, where LME delivery warehouses are located.