Monthly Nickel Market Report Apr 2019
2019-05-15 17:59:36 【Print】
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1. Market Highlights
This month, as VAT rate for manufacturing sector was reduced to 13% and downstream consumers were bearish on the future market of nickel cathode, end users purchase scarcely while small and medium traders saw active transactions. End users for stainless steel saw weak demand and they consumed the stocks slowly, demand for nickel cathode decreased and downstream consumers were bearish on the future market, leading to limited transactions. Early this month, high grade ferronickel prices dropped due to VAT reduction, and the high grade ferronickel market only saw normal transactions with long-term contracts but limited spot orders. Prices for high grade ferronickel fell this month.
In battery market, as precursor producers reduced 8 series precursor and mainly produced 5 series material, demand for battery grade nickel sulfate weakened and the supply was sufficient this month. In late April, affected by the sharp drop of nickel cathode prices, prices for nickel sulfate moved down. Meanwhile, as cobalt sulfate price moved up in late April, prices for NCM precursor rebounded.
In the electroplating market, affected by the environmental protection inspection in East and South China, downstream electroplating plant's operating rate has declined, and demand for nickel sulfate and nickel cathode has weakened, and the price has fallen.
This month, as VAT rate for manufacturing sector was reduced to 13% and downstream consumers were bearish on the future market of nickel cathode, end users purchase scarcely while small and medium traders saw active transactions. End users for stainless steel saw weak demand and they consumed the stocks slowly, demand for nickel cathode decreased and downstream consumers were bearish on the future market, leading to limited transactions. Early this month, high grade ferronickel prices dropped due to VAT reduction, and the high grade ferronickel market only saw normal transactions with long-term contracts but limited spot orders. Prices for high grade ferronickel fell this month.
In battery market, as precursor producers reduced 8 series precursor and mainly produced 5 series material, demand for battery grade nickel sulfate weakened and the supply was sufficient this month. In late April, affected by the sharp drop of nickel cathode prices, prices for nickel sulfate moved down. Meanwhile, as cobalt sulfate price moved up in late April, prices for NCM precursor rebounded.
In the electroplating market, affected by the environmental protection inspection in East and South China, downstream electroplating plant's operating rate has declined, and demand for nickel sulfate and nickel cathode has weakened, and the price has fallen.
