Chinese battery grade nickel sulfate market sees soft demand
2023-03-29 11:48:18 [Print]
BEIJING (Asian Metal) 29 Mar 23 - Currently, the market demand for battery grade nickel sulfate continues to remain weak, and consumers keep depressing prices. Prevailing prices for Chinese battery grade nickel sulfate stood at RMB35,500-36,000/t (USD5,164-5,236/t) delivered D/A on Tuesday, down by RMB300/t (USD43.64/t) from Monday. Insiders noted that battery grade nickel sulfate producers now have few orders and face significant sales pressure, and expect that the prices for Chinese battery grade nickel sulfate would go down in the coming week.
A producer in Central China claimed that the market demand for battery grade nickel sulfate continued to remain weak in late March, resulting in significant pressure on producers to sell. "On Tuesday we could accept RMB35,500/t (USD5,164/t) delivered D/A for battery grade nickel sulfate, but we closed no deal recently. We last sold 227t of battery grade nickel sulfate at RMB37,400/t (USD5,440/t) delivered D/A in early March", the source said, adding that due to the decline in demand, their production in March decreased from about 909t in February to about 545t, and predicts that the prices for Chinese battery grade nickel sulfate would fall in the following week.
With an annual production capacity of 36,000t of nickel sulfate, the company produced about 17,780t in 2022. Its output in February recorded about 910t and it expects to see an output of 545t or so in March, holding no stock for the moment.
A producer in Northeast China mentioned that the demand for battery grade nickel sulfate kept quiet in March, while consumers continued to depress deal prices. "On Tuesday we refused to sell at a price lower than RMB36,800/t (USD5,353/t) delivered D/A, stable compared to Monday. We made no deal this week, and the last deal happened in mid-March, when we sold 32t of nickel sulfate at RMB37,700/t (USD5,484/t) delivered D/P", the source reported, adding that consumer orders show currently scarce and they may suspend production of nickel sulfate in April.
With an annual production capacity of 10,000t of nickel sulfate, the producer witnessed an output of 6,800t or so in 2022. They expect to produce about 400t in March, in line with February basically, and hold no nickel sulfate stock for the time being.
A producer in Central China claimed that the market demand for battery grade nickel sulfate continued to remain weak in late March, resulting in significant pressure on producers to sell. "On Tuesday we could accept RMB35,500/t (USD5,164/t) delivered D/A for battery grade nickel sulfate, but we closed no deal recently. We last sold 227t of battery grade nickel sulfate at RMB37,400/t (USD5,440/t) delivered D/A in early March", the source said, adding that due to the decline in demand, their production in March decreased from about 909t in February to about 545t, and predicts that the prices for Chinese battery grade nickel sulfate would fall in the following week.
With an annual production capacity of 36,000t of nickel sulfate, the company produced about 17,780t in 2022. Its output in February recorded about 910t and it expects to see an output of 545t or so in March, holding no stock for the moment.
A producer in Northeast China mentioned that the demand for battery grade nickel sulfate kept quiet in March, while consumers continued to depress deal prices. "On Tuesday we refused to sell at a price lower than RMB36,800/t (USD5,353/t) delivered D/A, stable compared to Monday. We made no deal this week, and the last deal happened in mid-March, when we sold 32t of nickel sulfate at RMB37,700/t (USD5,484/t) delivered D/P", the source reported, adding that consumer orders show currently scarce and they may suspend production of nickel sulfate in April.
With an annual production capacity of 10,000t of nickel sulfate, the producer witnessed an output of 6,800t or so in 2022. They expect to produce about 400t in March, in line with February basically, and hold no nickel sulfate stock for the time being.
