Chinese nickel sulfate market demand continues to remain weak
2023-04-27 11:54:34 [Print]
BEIJING (Asian Metal) 27 Apr 23 - Affected by the continuous reduction in orders for precursors, the market demand for battery-grade nickel sulfate declined this week. This Wednesday, the mainstream prices of Chinese battery-grade nickel sulfate Ni22%min Co0.4%max hovered at RMB31,700-32,200/t (USD4,576-4,649/t) delivered D/A, in line with Tuesday. Insiders noted that the current pressure on producers to ship is higher, and predict that the prices of Chinese battery-grade nickel sulfate would go down in the forthcoming week.
A producer in Central China claimed that the demand for battery-grade nickel sulfate from their downstream customers continued to be quiet this week. They expected that the sales volume in April would only be about 450t, the same as March, while the sales volume in the same period last year was about 1,350t. "This Wednesday, our quotation for battery-grade nickel sulfate recorded RMB32,000/t (USD4,620/t) delivered D/A, and we did not accept bargaining, unchanged from Tuesday. We closed no deal today and last sold about 450t at a price of RMB33,750/t (USD4,872/t) delivered D/A in early April", the source said, adding that the current demand for battery-grade nickel sulfate in the downstream precursor industry continues to be sparse, and predicts that the prices of Chinese battery-grade nickel sulfate would decline in the following week.
The company, with an annual production capacity of 36,000t of nickel sulfate and no stock for the moment, saw an output of around 17,780t in 2022. It expects to produce about 450t in April, on par with March.
A producer in East China reported that due to the sharp decline in demand from downstream customers, their sales in April were only about 150t, compared to about 580t in March. "We had no quotation for battery-grade nickel sulfate this Wednesday, and refused to accept any bids lower than RMB32,000/t (USD4,620/t) delivered D/A. They made no deal today and last sold 60t at RMB35,000/t (USD5,053/t) delivered D/A in early April", the source said, adding that the current market demand for battery-grade nickel sulfate continues to be quiet, and expects that the prices of Chinese battery-grade nickel sulfate would fall in the upcoming week.
The company, with an annual production capacity of 15,000t, saw an output of 7,200t or so in 2022. It expects to produce about 150t in April, compared with about 580t in March, and holds about 60t of stocks for the time being.
A producer in Central China claimed that the demand for battery-grade nickel sulfate from their downstream customers continued to be quiet this week. They expected that the sales volume in April would only be about 450t, the same as March, while the sales volume in the same period last year was about 1,350t. "This Wednesday, our quotation for battery-grade nickel sulfate recorded RMB32,000/t (USD4,620/t) delivered D/A, and we did not accept bargaining, unchanged from Tuesday. We closed no deal today and last sold about 450t at a price of RMB33,750/t (USD4,872/t) delivered D/A in early April", the source said, adding that the current demand for battery-grade nickel sulfate in the downstream precursor industry continues to be sparse, and predicts that the prices of Chinese battery-grade nickel sulfate would decline in the following week.
The company, with an annual production capacity of 36,000t of nickel sulfate and no stock for the moment, saw an output of around 17,780t in 2022. It expects to produce about 450t in April, on par with March.
A producer in East China reported that due to the sharp decline in demand from downstream customers, their sales in April were only about 150t, compared to about 580t in March. "We had no quotation for battery-grade nickel sulfate this Wednesday, and refused to accept any bids lower than RMB32,000/t (USD4,620/t) delivered D/A. They made no deal today and last sold 60t at RMB35,000/t (USD5,053/t) delivered D/A in early April", the source said, adding that the current market demand for battery-grade nickel sulfate continues to be quiet, and expects that the prices of Chinese battery-grade nickel sulfate would fall in the upcoming week.
The company, with an annual production capacity of 15,000t, saw an output of 7,200t or so in 2022. It expects to produce about 150t in April, compared with about 580t in March, and holds about 60t of stocks for the time being.
