[SMM Analysis] Nickel Sulphate Imports Rose in July, Exports Declined

According to the latest data from China Customs, China's nickel sulphate imports totaled 3,726 mt in metal content in July 2025, up 28% MoM and 24% YoY. China's nickel sulphate exports stood at 145 mt in metal content, down 16% MoM and 78% YoY. China's net nickel sulphate imports reached 3,580 mt in metal content in July 2025, up 30% MoM and 54% YoY. The decline in exports this month was mainly affected by countries such as Japan and South Korea, while the increase in imports was primarily driven by countries including Finland. Net imports of nickel salts rose this month, which was largely in line with last month's expectations.

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