Chinese nickel sulfate prices to rise further
2024-03-14 11:42:05 [Print]
BEIJING (Asian Metal) 14 Mar 24 - At present, Chinese battery grade nickel sulfate is still in short supply, and producers hold back from selling due to the tight supply of nickel hydroxide. On Wednesday, mainstream prices for Chinese battery grade nickel sulfate Ni 22%min; Co 0.4%max stood at RMB29,500-30,000/t (USD4,105-4,174/t) delivered D/A, up by RMB300/t (USD41.74/t) from last Friday.
A producer in East China revealed that they are not in a hurry to sell this week because of the short supply of battery grade nickel sulfate. "On Wednesday, we would not sell battery grade nickel sulfate at prices lower than RMB29,500/t (USD4,105/t) delivered D/P, while last Friday, we could accept a price as low as RMB29,200/t (USD4,063/t) delivered D/P. Today, we refused a customer's enquiry of 450t at a target price of RMB29,500/t (USD4,105/t) delivered D/P, and we are not in a hurry to close deals now. A customer wanted to purchase 270t yesterday, but we only sold 230t at RMB29,500/t (USD4,105/t) delivered D/P," the source said, reckoning that prices for Chinese battery grade nickel sulfate would rise further in the following week in view of the current short supply of nickel hydroxide.
With an annual production capacity of 55,000t, the company produced about 16,700t in 2023. They produced about 1,030t in February and expect to produce 900t in March, holding no stock now.
A consumer in East China noted that the current short supply of nickel hydroxide leads to insufficient production of battery grade nickel sulfate. "On Wednesday, a supplier offered us RMB30,000/t (USD4,174/t) delivered D/P for battery grade nickel sulfate and refused any counteroffers, while last Friday, the supplier could still accept RMB29,600/t (USD4,119/t) delivered D/P. We didn't close deals this week while last purchased 1,000t at RMB24,500/t (USD3,409/t) delivered D/A in early February," the source said, adding that battery grade nickel sulfate producers hold back from selling at present, so prices for battery grade nickel sulfate in Chinese market would move up further in the week to come.
With an annual consumption capacity of 110,000t, the consumer expects to consume about 7,000t in March, up from about 5,000t in February. They hold about 2,000t of stocks now.
A producer in East China revealed that they are not in a hurry to sell this week because of the short supply of battery grade nickel sulfate. "On Wednesday, we would not sell battery grade nickel sulfate at prices lower than RMB29,500/t (USD4,105/t) delivered D/P, while last Friday, we could accept a price as low as RMB29,200/t (USD4,063/t) delivered D/P. Today, we refused a customer's enquiry of 450t at a target price of RMB29,500/t (USD4,105/t) delivered D/P, and we are not in a hurry to close deals now. A customer wanted to purchase 270t yesterday, but we only sold 230t at RMB29,500/t (USD4,105/t) delivered D/P," the source said, reckoning that prices for Chinese battery grade nickel sulfate would rise further in the following week in view of the current short supply of nickel hydroxide.
With an annual production capacity of 55,000t, the company produced about 16,700t in 2023. They produced about 1,030t in February and expect to produce 900t in March, holding no stock now.
A consumer in East China noted that the current short supply of nickel hydroxide leads to insufficient production of battery grade nickel sulfate. "On Wednesday, a supplier offered us RMB30,000/t (USD4,174/t) delivered D/P for battery grade nickel sulfate and refused any counteroffers, while last Friday, the supplier could still accept RMB29,600/t (USD4,119/t) delivered D/P. We didn't close deals this week while last purchased 1,000t at RMB24,500/t (USD3,409/t) delivered D/A in early February," the source said, adding that battery grade nickel sulfate producers hold back from selling at present, so prices for battery grade nickel sulfate in Chinese market would move up further in the week to come.
With an annual consumption capacity of 110,000t, the consumer expects to consume about 7,000t in March, up from about 5,000t in February. They hold about 2,000t of stocks now.
