The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Nov 20, 2024

According to customs data, China imported 690,900 mt of FeNi in October 2024, down 6.3% MoM and down 23.7% YoY. In terms of metal content, the total nickel content in imported FeNi was 85,000 mt, down 5.8% MoM and down 26.6% YoY. Despite the increase in NPI production and exports from Indonesia, FeNi production in New Caledonia and Colombia was affected by domestic turmoil and market downturns, respectively, leading to reduced supply. It is expected that China's FeNi imports will continue to decline in the short term, while Indonesia's NPI exports will reach a historical high.

APNI 2024 Conference Highlights: Indonesia Reviews PNBP and RKAB Updates for Nickel Mining

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Nov 19, 2024

According to the announcement by the Ministry of Finance and the State Administration of Taxation, starting from November 2024, the export tax rebate rate for lithium batteries will be reduced from 13% to 9%. This policy adjustment aims to guide domestic price recovery by lowering export tax rebates, alleviate international trade accusations, and encourage the cultivation of internationally competitive products.