According to the latest data from China Customs, in July 2024, China imported 137,869 mt of nickel hydrometallurgy intermediate products, up 15% MoM and up 43% YoY. In terms of metal content, China imported 27,086 mt (Ni contained), up 44% MoM from June.
By country, the main source of the increase in hydrometallurgy intermediate product imports was Indonesia, with 114,732 mt imported. The increase was mainly due to the ramp-up of a nickel hydrometallurgy intermediate product project in Indonesia and the delayed shipment of some goods originally expected to be shipped in June. Additionally, it is worth noting that imports of nickel hydrometallurgy intermediate products from Papua New Guinea decreased significantly in July, mainly due to shipping schedules, with no significant production reduction or suspension observed. Imports from Australia were zero in July, primarily because a nickel hydrometallurgy intermediate product project in Australia has not resumed production after a shutdown for maintenance.
For August, it is expected that nickel hydrometallurgy intermediate products from Indonesia will arrive as scheduled, combined with the subsequent normalization of shipments from Papua New Guinea. Therefore, the imports of nickel hydrometallurgy intermediate products in August are expected to hold stable or see a slight increase.
