Chinese electroplating grade nickel sulfate consumers make purchases cautiously
2023-03-15 11:58:25 [Print]
BEIJING (Asian Metal) 15 Mar 23 - Impacted by the continuous decline in nickel cathode prices, downstream consumers are bearish about the future price of electroplated nickel sulfate and build stocks cautiously. This Tuesday, mainstream prices of Chinese electroplating grade nickel sulfate hovered at RMB45,000-45,500/t (USD6,549-6,622/t) delivered D/A, unchanged from Monday. Insiders note that the current electroplated nickel sulfate market sees rare deals, and expect that the prices of Chinese electroplating grade nickel sulfate would decline in the coming week.
A producer in Northeast China reported that their downstream customers were bearish about the price of electroplated nickel sulfate currently, and the customers who purchased 100t of nickel sulfate at one time only purchase 32t once at present. "On Tuesday we quoted RMB45,500/t (USD6,622/t) delivered D/A for electroplated nickel sulfate and could accept the counteroffer of RMB500/t (USD72.76/t), stable compared with Monday. We sold 32t at RMB45,000/t (USD6,549/t) delivered D/A on Tuesday and 32t at the same price yesterday", the source said, adding that downstream consumers of electroplated nickel sulfate keep cautious in purchasing at the moment, and expects that the prices of Chinese electroplating grade nickel sulfate would drop in the following week.
The producer, with an annual production capacity of 30,000t, produced about 24,000t in 2022. They expect to see an output of around 2,100t in March, lower than about 2,200t in February, holding about 2,000t of stocks for the moment.
A producer in the South China market claimed that affected by the fall in nickel cathode prices, their consumers were cautious in stock building and began to wait on the sidelines towards the market. Consumers increased procurement frequency and reduced procurement volume each time. "On Tuesday we offered RMB46,000/t (USD6,694/t) delivered D/A for electroplated nickel sulfate and could accept RMB45,500/t (USD6,622/t) delivered D/A for regular clients, on par with Monday. We sold 20t at RMB45,500/t (USD6,622/t) delivered D/A today and 10t at RMB46,000/t (USD6,694/t) delivered D/A on Monday", the source mentioned, adding that at present the electroplated nickel sulfate market witnesses sparse deals, and predicts that the prices of Chinese electroplating grade nickel sulfate would fall in the upcoming week.
With an annual production capacity of 12,000t of nickel sulfate, saw an output of 6,500t or so in 2022. It expect to produce around 400t in March, compared to about 500t in February, holding about 100t of stocks for the time being.
A producer in Northeast China reported that their downstream customers were bearish about the price of electroplated nickel sulfate currently, and the customers who purchased 100t of nickel sulfate at one time only purchase 32t once at present. "On Tuesday we quoted RMB45,500/t (USD6,622/t) delivered D/A for electroplated nickel sulfate and could accept the counteroffer of RMB500/t (USD72.76/t), stable compared with Monday. We sold 32t at RMB45,000/t (USD6,549/t) delivered D/A on Tuesday and 32t at the same price yesterday", the source said, adding that downstream consumers of electroplated nickel sulfate keep cautious in purchasing at the moment, and expects that the prices of Chinese electroplating grade nickel sulfate would drop in the following week.
The producer, with an annual production capacity of 30,000t, produced about 24,000t in 2022. They expect to see an output of around 2,100t in March, lower than about 2,200t in February, holding about 2,000t of stocks for the moment.
A producer in the South China market claimed that affected by the fall in nickel cathode prices, their consumers were cautious in stock building and began to wait on the sidelines towards the market. Consumers increased procurement frequency and reduced procurement volume each time. "On Tuesday we offered RMB46,000/t (USD6,694/t) delivered D/A for electroplated nickel sulfate and could accept RMB45,500/t (USD6,622/t) delivered D/A for regular clients, on par with Monday. We sold 20t at RMB45,500/t (USD6,622/t) delivered D/A today and 10t at RMB46,000/t (USD6,694/t) delivered D/A on Monday", the source mentioned, adding that at present the electroplated nickel sulfate market witnesses sparse deals, and predicts that the prices of Chinese electroplating grade nickel sulfate would fall in the upcoming week.
With an annual production capacity of 12,000t of nickel sulfate, saw an output of 6,500t or so in 2022. It expect to produce around 400t in March, compared to about 500t in February, holding about 100t of stocks for the time being.
