China’s nickel overcapacity spurs another surge in metal exports
Chinese refined nickel exports could almost treble this year, as domestic overcapacity produces yet another glut of metal that will have to be absorbed by overseas markets. The country flipped to a net exporter of refined nickel, a metal used in electric vehicle batteries and for stainless steel, for the first time in 2024, with annual sales of 25 000 t. Mysteel Global reckons that could rise to nearly 70 000 t this year, adding nickel to the list of commodities that China overproduces and ships abroad to clear its surplus.
Chinese refined nickel exports could almost treble this year, as domestic overcapacity produces yet another glut of metal that will have to be absorbed by overseas markets.
The country flipped to a net exporter of refined nickel, a metal used in electric vehicle batteries and for stainless steel, for the first time in 2024, with annual sales of 25 000 t. Mysteel Global reckons that could rise to nearly 70 000 t this year, adding nickel to the list of commodities that China overproduces and ships abroad to clear its surplus.
