Chinese electroplating grade nickel sulfate prices to remain stable
2024-03-01 10:21:27 [Print]
BEIJING (Asian Metal) 1 Mar 24 - Demand from electroplating grade nickel sulfate downstream customers continues to recover this week, but demand is still weaker than before the Spring Festival holiday. This Thursday, mainstream prices of Chinese electroplating grade nickel sulfate Ni 22%min, Co 0.05%max stood at RMB33,500-34,000/t (USD4,660-4,730/t) delivered D/A, in line with last Friday. Insiders said that the current price of battery-grade nickel sulfate keeps rising, and supported by this, expect that prices of Chinese electroplating grade nickel sulfate would remain stable in the coming week.
A producer in South China reported that demand from their downstream customers began to gradually recover this week and the sales volume in the past week reached 70-80% of that before the Spring Festival holiday. "This Thursday, we could accept the price as low as RMB34,000/t (USD4,730/t) delivered D/A for electroplating grade nickel sulfate and could accept a negotiated price of RMB500/t (USD69.55/t) for a purchase of more than 50t, stable compared with last Friday. We sold 3t and 4t at RMB34,000/t (USD4,730/t) delivered D/A today and on Wednesday respectively", a source from the company noted, adding that supported by the continued rise in battery-grade nickel sulfate prices, Chinese electroplating grade nickel sulfate prices might keep flat in the following week.
With an annual production capacity of 12,000t of nickel sulfate, the company saw an output of 6,500t or so in 2023. It produced about 250t in February and expects to produce 500t in March, holding around 100t of nickel sulfate stocks for the time being.
A producer in Central China mentioned that demand from their downstream customers continued to recover this week and the sales volume now reaches about 80% of that before the Spring Festival holiday. "This Thursday, we could accept a price as low as RMB37,000/t (USD5,147/t) delivered D/A for electroplating grade nickel sulfate, stable compared with last week. We sold 10t and 15t at RMB37,000/t (USD5,147/t) delivered D/A today and yesterday respectively", a source from the company said, adding that the price of battery-grade nickel sulfate kept rising in mid-to-late February, and predicts that prices of Chinese electroplating grade nickel sulfate would level off in the upcoming week supported by this.
Based on an annual production capacity of 14,000t, the company witnessed an output of 4,200t or so in 2023. It produced about 100t in February and expects to produce 400t in March, holding around 300t of nickel sulfate stocks at the moment.
A producer in South China reported that demand from their downstream customers began to gradually recover this week and the sales volume in the past week reached 70-80% of that before the Spring Festival holiday. "This Thursday, we could accept the price as low as RMB34,000/t (USD4,730/t) delivered D/A for electroplating grade nickel sulfate and could accept a negotiated price of RMB500/t (USD69.55/t) for a purchase of more than 50t, stable compared with last Friday. We sold 3t and 4t at RMB34,000/t (USD4,730/t) delivered D/A today and on Wednesday respectively", a source from the company noted, adding that supported by the continued rise in battery-grade nickel sulfate prices, Chinese electroplating grade nickel sulfate prices might keep flat in the following week.
With an annual production capacity of 12,000t of nickel sulfate, the company saw an output of 6,500t or so in 2023. It produced about 250t in February and expects to produce 500t in March, holding around 100t of nickel sulfate stocks for the time being.
A producer in Central China mentioned that demand from their downstream customers continued to recover this week and the sales volume now reaches about 80% of that before the Spring Festival holiday. "This Thursday, we could accept a price as low as RMB37,000/t (USD5,147/t) delivered D/A for electroplating grade nickel sulfate, stable compared with last week. We sold 10t and 15t at RMB37,000/t (USD5,147/t) delivered D/A today and yesterday respectively", a source from the company said, adding that the price of battery-grade nickel sulfate kept rising in mid-to-late February, and predicts that prices of Chinese electroplating grade nickel sulfate would level off in the upcoming week supported by this.
Based on an annual production capacity of 14,000t, the company witnessed an output of 4,200t or so in 2023. It produced about 100t in February and expects to produce 400t in March, holding around 300t of nickel sulfate stocks at the moment.
