China’s record high ferronickel imports not to impact stainless steel prices
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Update time : 2025-01-22 16:47:49
Chinese customs data showed that China’s ferronickel imports reached around 995,000 tons in December last year, rising by 12.73% month on month and by 21.66% year on year, hitting a record monthly high. Among them, imports from Indonesia were 969,900 tons, up by 13.38% monthly and 24.38% yearly.
In 2024, China imported roughly 8.98 million tons of ferronickel, an increase of 6.24% compared to 2023, including 8.66 million tons from Indonesia, up by 9.43%.
Analysts attributed the increase in China’s ferronickel imports to Indonesia's new nickel mining production quotas (RKAB), boosting local production while Chinese output remained low due to continuous losses. China’s ferronickel imports were expected to stay high in January, but the impact on stainless steel prices would be limited in the short term due to support by rebounding prices.
