The customs clearance volume of refined nickel decreased significantly in March
According to customs data, China imported 6,583 mt of refined nickel (including unwrought non-alloy nickel with the total amount of nickel and cobalt ≥99.99% and cobalt ≤0.005%, other unwrought non-alloy nickel and unwrought nickel alloy) in March, up 13.26% MoM and 48.19% YoY.
According to customs data, China imported 129,000 mt of nickel hydrometallurgy intermediate products in March, or 24,600 mtu (up 154% MoM and holding stable YoY).
SMM analysis of nickel sulphate imports and exports in March 2024
According to customs data, China imported 3,840 mtu of nickel sulphate in March, up 20% MoM and 124% YoY.
SMM analysis of nickel ore imports in March 2024
According to customs data, China's imports of nickel ore stood at 1.5421 million mt in March, up 26% MoM but down 27% YoY.
Inventory decline on weekends boosted market confidence [SMM analysis]
On Apr 22, 2024, SMM data showed that the social inventory of aluminum ingots in China’s eight major markets was 831,000 mt, (the amount for sale stood at 705,000 mt), down 13,000 mt WoW and 75,000 mt YoY, remaining at the lowest compared to the same period of past seven years.