China’s Nickel Buying Surges, Doubling National Reserves

Key Summary:
- China has doubled its nickel reserves stockpile in 2025
- The move is done amid geopolitical tensions & low nickel prices
- Other metals like copper, cobalt are also seeing Chinese purchases
Amid ongoing global trade tensions, which have motivated countries to bolster sovereign reserves in food and essential commodities, China is reportedly accumulating substantial amounts of nickel that is critical for its stainless steel and electric vehicle (EV) industries.
What’s the headline? According to the Financial Times, China has consistently been acquiring high-purity "class one" nickel, significantly increasing its reserves by approximately 100,000 tons since the start of the year.