Core Insights - In August 2025, China's export volume of ternary cathode materials reached 13,534 tons, marking a month-on-month increase of 2,616 tons, or 24.0%, and a year-on-year increase of 5,604 tons, or 70.7% [1] - Cumulative exports of cathode materials from January to August 2025 totaled 74,257 tons, reflecting a year-on-year growth of 43.9% [3] - In August 2025, the import volume of ternary cathode materials was 7,576 tons, with a month-on-month increase of 919 tons, or 13.8%, and a year-on-year increase of 2,175 tons, or 40.3% [4] - Cumulative imports of cathode materials from January to August 2025 amounted to 44,572 tons, showing a year-on-year decline of 13.8% [4] Export Details - The export volume of lithium nickel cobalt manganese oxide (NCM type) was 13,352 tons, while lithium nickel cobalt aluminum oxide (NCA type) accounted for 183 tons in August 2025 [1] - The total export-import volume of ternary cathode materials in August 2025 was 5,958 tons [6] Import Details - The import volume of NCM type was 5,567 tons, and NCA type was 2,009 tons in August 2025 [4]

据中国海关数据统计，2025年8月中国镍的硫酸盐进口量30292.611吨，环比增加13357.35吨，上升 78.87%；同比增加7372.42吨，上升32.17%。2025年1-8月中国镍的硫酸盐进口总量160189.381吨，同比 增加7.21%。 数据来源：海关总署 下游三元需求进入季节性旺季，中国8月进口硫酸镍大幅提升。 ...

海关统计数据在线查询平台公布的数据显示，中国2025年8月未锻压镍进口量为24,426.84吨，环比减少 36.11%，同比上升172.34%。 挪威是第一大进口来源地，当月从挪威进口未锻压镍12,202.02吨，环比增加391.89%，同比增加 1745.85%。 注：1、未锻压镍包括按重量计镍、钴总量≥99.99%，钴≤0.005％的未锻轧非合金镍；其他未锻轧非合金 镍；未锻轧的镍合金。 2、进口总量（总计）中亦包括上表未列出的部分原产地数据。 数据来源：海关总署 俄罗斯是第二大进口来源地，当月从俄罗斯进口未锻压镍5,128.53吨，环比下降71.10%，同比下降 2.17%。 以下为根据中国海关总署官网数据整理的2025年8月未锻压镍进口分项数据一览表： ...

据中国海关统计数据显示，2025年8月中国三元前驱体出口量为6549吨，环比增加180吨，增幅2.8%； 同比减少4579吨，降幅41.1%。其中，镍钴锰氢氧化物（NCM）出口量6549吨。 8月中国三元前驱体出口量小幅回升，但仍处于历史低位。 数据来源：海关总署 2025年1-8月中国三元前驱体出口量累计46906吨，同比降幅53.4%。 ...

Group 1: Copper Inventory Changes - The registered warehouse inventory for copper decreased by 0.26% to 145,375 tons, while the canceled warehouse inventory increased by 13.37% to 12,475 tons, resulting in a cancellation ratio of 8.58% [1][3] - The total inventory in various locations shows a decrease in copper stock, with significant reductions in Rotterdam and other locations [3] Group 2: Aluminum Inventory Changes - Aluminum registered warehouse inventory remained unchanged at 513,900 tons, with a cancellation inventory of 109,225 tons, maintaining a cancellation ratio of 21.25% [1][5] - The aluminum inventory across different locations shows stability, with no significant changes reported [5] Group 3: Zinc Inventory Changes - Zinc registered warehouse inventory remained at 46,825 tons, with a cancellation inventory of 15,450 tons, leading to a cancellation ratio of 33.00% [1][9] - The inventory levels indicate a consistent trend in zinc stock across various locations [9] Group 4: Tin Inventory Changes - Tin registered warehouse inventory increased by 0.21% to 2,580 tons, with a significant increase in canceled inventory by 69.57% to 195 tons, resulting in a cancellation ratio of 7.56% [1][11] - The inventory changes reflect a slight increase in tin stock, particularly in specific locations [11] Group 5: Overall Market Trends - The overall trends in registered and canceled warehouse inventories across various metals indicate fluctuations in stock levels, with some metals experiencing increases in cancellation ratios while others remain stable [1][5][9][11]

Core Insights - China's nickel ore and concentrate imports in August 2025 reached 6,346,691.93 tons, marking a month-on-month increase of 26.92% and a year-on-year increase of 29.87% [1] Import Sources - The Philippines remains the largest source of nickel ore and concentrate imports, supplying 5,944,048.49 tons in August 2025, with a month-on-month growth of 27.09% and a year-on-year increase of 25.75% [1] - New Caledonia is the second largest source, with imports of 165,661.89 tons, reflecting a month-on-month rise of 17.76% [1] Detailed Import Data - The following table summarizes the import data for August 2025: | Source Country | August 2025 (tons) | Month-on-Month Change | Year-on-Year Change | |----------------------|---------------------|-----------------------|---------------------| | Philippines | 5,944,048.49 | 27.09% | 25.75% | | New Caledonia | 165,661.89 | 17.76% | -- | | Côte d'Ivoire | 74,211.14 | -6.30% | -21.10% | | Solomon Islands | 74,128.88 | -- | -- | | Guatemala | 49,723.96 | -24.70% | 399.07% | | E | 10,945.86 | -- | -- | | Australia | 10,386.35 | -6.67% | 188.22% | | Zambia | 9,668.64 | -- | -60.19% | | Russia | 4,589.08 | -66.73% | -72.64% | | Tanzania | 2,939.75 | 32.68% | 150.74% | | Canada | 369.89 | -- | -- | | Malaysia | 17.96 | -- | -- | | Papua New Guinea | 0.04 | -- | -- | | Total | 6,346,691.93 | 26.92% | 29.87% | [1]

Core Insights - China's refined copper imports in August 2025 totaled 307,228.23 tons, representing a month-on-month decrease of 8.17% but an increase of 11.14% year-on-year [1][2]. Import Sources - The Democratic Republic of the Congo was the largest source of refined copper imports, supplying 126,307.12 tons, which is a decrease of 11.55% month-on-month but an increase of 26.49% year-on-year [1]. - Russia ranked second, with imports of 25,218.78 tons, showing a month-on-month decrease of 17.56% but a significant year-on-year increase of 173.10% [1]. - Other notable sources included the Netherlands (25,122.38 tons, +62.82% MoM, +12553.94% YoY) and Chile (21,701.70 tons, +12.84% MoM, -6.44% YoY) [1]. Detailed Import Data - A comprehensive breakdown of refined copper imports by origin for August 2025 is provided, highlighting significant fluctuations in both month-on-month and year-on-year changes across various countries [1][2]. - For instance, imports from Myanmar surged by 163.24% MoM and 185.32% YoY, while imports from Australia fell by 14.29% MoM and decreased by 57.40% YoY [1]. Additional Notes - The data includes various forms of refined copper, such as cathodes and wire bars, and also notes that the total import figures encompass additional unlisted origins [3].

Core Insights - China's refined lead imports in August 2025 totaled 1,820.55 tons, showing a month-on-month decrease of 46.72% and a year-on-year decrease of 96.58% [1] Import Data Summary - Kazakhstan was the largest source of refined lead imports, with 719.26 tons imported, reflecting a month-on-month decline of 72.63% and a year-on-year decrease of 96.65% [1] - Kyrgyzstan ranked second, with imports of 438.03 tons, which increased by 78.92% month-on-month and 99.49% year-on-year [1] - The Philippines imported 329.75 tons, showing a month-on-month increase of 59.57% but a year-on-year decrease of 17.30% [1] - Malaysia's imports were 201.43 tons, with a year-on-year decrease of 37.78% [1] - India imported 102.55 tons, reflecting a month-on-month increase of 3.24% but a significant year-on-year decrease of 99.06% [1] - Other notable imports included 23.70 tons from "地都國士" with a month-on-month decrease of 11.63% and 5.83 tons from Germany, which saw an extraordinary month-on-month increase of 583,200% [1] - Overall, the total refined lead imports for August 2025 were significantly lower compared to previous periods, indicating a potential shift in sourcing or demand dynamics in the market [1]

泰国是第二大进口来源地，当月从泰国进口废铜30,034.35吨，环比下降12.64%，同比上升103.08%。 海关统计数据在线查询平台公布的数据显示，中国2025年8月废铜（铜废碎料）进口量为179,359.74吨， 环比减少5.64%，同比上升5.93%。 日本是第一大进口来源地，当月从日本进口废铜35,443.33吨，环比下降1.95%，同比上升85.03%。 注：进口总量（总计）中亦包括上表未列出的部分原产地数据 | j | AFFILL | 1 -- ---- | Ania 110 | | --- | --- | --- | --- | | 多米尼加 | 587.38 | 24.19% | 141.05% | | 印度 | 580.03 | -0.04% | 89.21% | | 玻利维亚 | 551.53 | -12.46% | 54.99% | | 美国 | 543.87 | -7.28% | -98.13% | | 阿尔及利亚 | 513.62 | 4.05% | 107.50% | | 秘鲁 | 502.52 | -0.24% | 23.28% | | 黎田嫩 | 457.06 | 10.7 ...

海关统计数据在线查询平台公布的数据显示，中国2025年8月废铝（铝废料及碎料）进口量为172,610.37 吨，环比增长7.55%，同比上升25.35%。 泰国是第一大进口来源地，当月从泰国进口废铝（铝废料及碎料）43,454.67吨，环比上升19.36%，同 比增加60.38%。 英国是第二大进口来源地，当月从英国进口废铝（铝废料及碎料）19,589.29吨，环比上升18.98%，同 比增加49.41%。 以下为根据中国海关总署官网数据整理的2025年8废铝进口分项数据一览表： | 原产地 | 2025年8月(吨) | 环比 | 同比 | | --- | --- | --- | --- | | 泰国 | 43,454.67 | 19.36% | 60.38% | | 英国 | 19,589.29 | 18.98% | 49.41% | | 日本 | 19.057.73 | -10.14% | 27.18% | | 加拿大 | 11,405.51 | 31.83% | 54.54% | | 美国 | 10,199.78 | 11.33% | -13.64% | | 西班牙 | 10,071.31 | 40.4 ...