Monthly Nickel Market Report May 2019
2019-06-14 21:43:59 【Print】
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1. Market Highlights
As end market saw sluggish transactions, the inventory of stainless steel mills was consumed slowly. Then stainless steel mills reduced production slightly, leading to less demand for nickel cathode. Meanwhile, most downstream consumers took a wait-and-see attitude to nickel cathode market, with few deals concluded. During this month, prices for nickel cathode were stable basically. As for ferrotitanium market, it also saw limited transactions with prices decreasing affected by the same reason that downstream stainless steel plants held soft demand for the material and were bearish on the future market and also put off ferronickel purchases.
In battery market, demand for battery grade nickel sulfate decreased as downstream precursor producers increased their production of 5 series material while decreased that of 6 series and 8 series. Meanwhile, prices for battery grade nickel sulfate dropped as the output of the material was stable basically with sufficient supply from the suppliers.
In electroplating market, affected by the low demand from end market and the environmental inspection, electroplating plants in East and South China held low operating rates, leading to less consumption of electroplating grade nickel sulfate. Thus, prices for the material only edged down this month.
As end market saw sluggish transactions, the inventory of stainless steel mills was consumed slowly. Then stainless steel mills reduced production slightly, leading to less demand for nickel cathode. Meanwhile, most downstream consumers took a wait-and-see attitude to nickel cathode market, with few deals concluded. During this month, prices for nickel cathode were stable basically. As for ferrotitanium market, it also saw limited transactions with prices decreasing affected by the same reason that downstream stainless steel plants held soft demand for the material and were bearish on the future market and also put off ferronickel purchases.
In battery market, demand for battery grade nickel sulfate decreased as downstream precursor producers increased their production of 5 series material while decreased that of 6 series and 8 series. Meanwhile, prices for battery grade nickel sulfate dropped as the output of the material was stable basically with sufficient supply from the suppliers.
In electroplating market, affected by the low demand from end market and the environmental inspection, electroplating plants in East and South China held low operating rates, leading to less consumption of electroplating grade nickel sulfate. Thus, prices for the material only edged down this month.
