China's imports of refined nickel have fallen to levels last seen almost 20 years ago, when the country's build-out of industrial capacity was still in its infancy.
Global nickel smelting activity rebounded in November, powered by gains in North America and Europe, while refined copper production dipped, data from satellite surveillance showed on Monday.
Chinese steel rebar and hot rolled coils futures jumped on Thursday, as demand for the most traded May deliveries are expected to recover from the weak consumption season.