[SMM Analysis] In August, nickel sulphate imports from South Korea, Finland, and other countries increased, while imports from Indonesia declined further, with net imports recovering somewhat.

According to the latest data from China Customs, China's nickel sulphate imports totalled 4,526 mt in metal content in August 2026, up 5% MoM but down 32% YoY. China's nickel sulphate exports stood at 37 mt in metal content, down 68% MoM and down 67% YoY. In August 2026, China's net nickel sulphate imports reached 4,490 mt in metal content, up 7% MoM but down 31% YoY.

By country, exports to Japan declined this month, dragging down total exports. On the import side, inflows from Indonesia fell, but imports from South Korea, Finland, and South Africa recovered, lifting total imports. Net nickel salt imports rose this month, broadly in line with last month's expectations.