China refined nickel exports recorded 7,496.475 tonnes in March, a monthly increase of 221.96% and up 225.26% from last year, according to the General Administration of Customs of the People's Republic of China (GACC).
Source: GACC
The exports mostly flowed to South Korea, where located a LME warehouse. China's Huayou, GEM, and CNGR exported actively after they successfully registered their brands with LME following the commissioning of electrowinning nickel projects in China. In addition, it was also the first time China became a net exporter of refined nickel since 2020.
In March, China imported 6,305.989 tonnes refined nickel, rising 9.38% month on month and 58.73% year on year. The rise was mostly contributed by the arrivals of Norway and Japan's electroplating-grade refined nickel under previous orders, while the domestic demand remained flat.
Source: GACC
Written by Aggie Hu, huchenying@mysteel.com