SunSirs: Domestic Refined Nickel and Nickel Ore Import Situation in December 2025

In December 2025, China's nickel ore imports totaled 1.9928 million tons, a decrease of 1.3466 million tons compared to the previous month, representing a 40.33% decrease; and an increase of 473,100 tons compared to the same period last year, representing a 31.13% increase. Of this total, laterite nickel ore accounted for 1.9612 million tons and sulfide nickel ore for 31,600 tons. Imports of laterite nickel ore from the Philippines amounted to 1.6087 million tons, accounting for 80.72% of the total imports for the month, a decrease of 1.4126 million tons compared to the previous month, representing a 46.75% decrease; and an increase of 411,600 tons compared to the same period last year, representing a 34.39% increase.

From January to December 2025, China's total nickel ore imports amounted to 42.2632 million tons, a year-on-year increase of 4.1673 million tons, representing a growth of 10.94%. Of this total, imports from the Philippines reached 36.5554 million tons, a year-on-year increase of 2.0241 million tons, representing a growth of 5.86%.

In December 2025, China's imports of refined nickel totaled 23,400 tons, an increase of 10,724 tons compared to the previous month, representing an 84.64% increase; and an increase of 5,100 tons compared to the same period last year, a 27.88% increase. Of this total, 12,400 tons of refined nickel were imported from Russia, a 1334.38% increase compared to the previous month and a 31.36% increase compared to the same period last year.

From January to December 2025, China's total imports of refined nickel amounted to 231,200 tons, a year-on-year increase of 134,144.254 tons, representing a growth of 137.90%. Of this total, 87,900 tons of refined nickel were imported from Russia, a year-on-year increase of 89.86%.

As an integrated internet platform providing benchmark prices, on January 27th, SunSirs' benchmark price for nickel was 153,883.33 RMB/ton, an increase of 11.73% compared to the beginning of the month (137,733.33 RMB/ton).

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

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