Yantai Cash cuts battery grade nickel sulfate production
2023-04-13 11:59:57 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Yantai Cash Industrial Co. Ltd., one of major producers of battery grade nickel sulfate Ni 22%min, Co 0.4%max in East China, plans to cut production to around 450t in April.
"The market for battery grade nickel sulfate remains slack at the moment. With a sharp decline in orders from downstream clients, we still hold around 1,000t of stocks in hand now. To keep inventory from increasing further, we plan to cut production to around 450t this month from nearly 1,360t in March", said the source, adding that they plan to produce in daytime and suspend production at night.
With an annual production capacity of 36,000t of battery grade nickel sulfate, they own one set of production equipment and produced about 15,300t in 2022, currently holding inventory of around 1,000t.
Mainstream prices for battery grade nickel sulfate Ni 22%mi, Co 0.4%max stood at RMB32,500-33,500/t (USD4,727-4,873/t) delivered D/P on Wednesday, down by RMB500/t (USD72.73/t) from Tuesday. Given the weakening demand, insiders believe that prices for Chinese battery grade nickel sulfate would move down further in the following week.
"The market for battery grade nickel sulfate remains slack at the moment. With a sharp decline in orders from downstream clients, we still hold around 1,000t of stocks in hand now. To keep inventory from increasing further, we plan to cut production to around 450t this month from nearly 1,360t in March", said the source, adding that they plan to produce in daytime and suspend production at night.
With an annual production capacity of 36,000t of battery grade nickel sulfate, they own one set of production equipment and produced about 15,300t in 2022, currently holding inventory of around 1,000t.
Mainstream prices for battery grade nickel sulfate Ni 22%mi, Co 0.4%max stood at RMB32,500-33,500/t (USD4,727-4,873/t) delivered D/P on Wednesday, down by RMB500/t (USD72.73/t) from Tuesday. Given the weakening demand, insiders believe that prices for Chinese battery grade nickel sulfate would move down further in the following week.
