Beixin New Energy suspends nickel sulfate production
2023-04-27 11:59:08 [Print]
BEIJING (Asian Metal) 27 Apr 23 - Nantong Beixin New Energy Technology Co., Ltd., one of major nickel sulfate producers in East China, halted production on April 13 and produced about 150t this month.
"As the demand for nickel sulfate from downstream precursor sector keeps weakening, prices for battery grade nickel sulfate dropped further. We suspended production on April 13 and produced about 150t this month. We are not sure when to resume production and will decide subject to market conditions after the Labour Day holiday", said a source from the company, adding that they produced about 580t of nickel sulfate in March.
Based on the annual production capacity of 15,000t of nickel sulfate Ni22%min Co0.4%max, they produced about 7,200t in 2022 and around 880t in Q1 2023, holding inventory of around 60t now.
Mainstream prices for Chinese battery grade nickel sulfate stood at RMB31,700-32,200/t (USD4,580-4,653/t) delivered D/P on Wednesday, unchanged from Tuesday. With slack demand for battery grade nickel sulfate, producers are facing great sales pressure, and insiders forecast that prices for Chinese battery grade nickel sulfate would decline in the week to come.
"As the demand for nickel sulfate from downstream precursor sector keeps weakening, prices for battery grade nickel sulfate dropped further. We suspended production on April 13 and produced about 150t this month. We are not sure when to resume production and will decide subject to market conditions after the Labour Day holiday", said a source from the company, adding that they produced about 580t of nickel sulfate in March.
Based on the annual production capacity of 15,000t of nickel sulfate Ni22%min Co0.4%max, they produced about 7,200t in 2022 and around 880t in Q1 2023, holding inventory of around 60t now.
Mainstream prices for Chinese battery grade nickel sulfate stood at RMB31,700-32,200/t (USD4,580-4,653/t) delivered D/P on Wednesday, unchanged from Tuesday. With slack demand for battery grade nickel sulfate, producers are facing great sales pressure, and insiders forecast that prices for Chinese battery grade nickel sulfate would decline in the week to come.
