Chinese nickel sulfate producers have strong willingness to raise prices
2024-04-03 11:54:33 [Print]
BEIJING (Asian Metal) 3 Apr 24 – The current nickel hydroxide market is still in short supply and battery-grade nickel sulfate producers have a strong willingness to raise prices
A producer in East China said that on Tuesday they would not ship battery-grade nickel sulfate Ni 22%min, Co 0.4%max liquid at the price lower than RMB30,500/t (USD4,217/t) delivered D/A, unchanged compared with last Friday. "Today we sold 90t at RMB30,500/t (USD4,217/t) delivered D/A and rejected the customers' counter-offer. On Monday, we sold 135t at a price of RMB30,500/t (USD4,217/t) delivered D/A", a source from the company mentioned, adding that although their downstream customers begin to wait on the sidelines towards the market, they have no plans to cut prices to close deals due to the shortage of nickel hydroxide supply, and expects that the prices of Chinese battery-grade nickel sulfate might remain stable in the following week.
With an annual production capacity of 55,000t, the company saw an output of 16,700t or so in 2023. It produced about 1,030t in February and 900t in March, holding no nickel sulfate inventory at the moment.
A producer in Southwest China reported that their quotation for battery-grade nickel sulfate Ni 22%min, Co 0.4%max was RMB31,000/t (USD4,286/t) delivered D/A on Tuesday, on par with last Friday . All orders for April have been signed and they will not accept price reductions for the time being. "We made no deal this Tuesday and last sold 256t at RMB30,500/t (USD4,217/t) delivered D/A at the end of March", a source from the company revealed, adding that their downstream customers also take a wait-and-see attitude towards the market this week affected by the continued decline in nickel cathode prices, but they will not accept price reductions based on the current nickel hydroxide supply shortage, and predicts that the prices of Chinese battery-grade nickel sulfate would keep flat in the upcoming week.
Based on an annual production capacity of 25,000t, the producer witnessed an output of around 12,200t in 2023. They produced 800t in February and about 1,100t in March, and hold no nickel sulfate stock for the moment.
. On Tuesday, mainstream prices for Chinese battery-grade nickel sulfate Ni 22%min, Co 0.4%max stood at RMB30,500-31,000/t (USD4,217-4,286/t) delivered D/A, in line with last Friday . Insiders noted that impacted by the decline of nickel cathode prices, nickel sulfate downstream consumers wait on the sidelines towards the market, and reckon that the prices for Chinese battery-grade nickel sulfate would level off in the coming week.
A producer in East China said that on Tuesday they would not ship battery-grade nickel sulfate Ni 22%min, Co 0.4%max liquid at the price lower than RMB30,500/t (USD4,217/t) delivered D/A, unchanged compared with last Friday. "Today we sold 90t at RMB30,500/t (USD4,217/t) delivered D/A and rejected the customers' counter-offer. On Monday, we sold 135t at a price of RMB30,500/t (USD4,217/t) delivered D/A", a source from the company mentioned, adding that although their downstream customers begin to wait on the sidelines towards the market, they have no plans to cut prices to close deals due to the shortage of nickel hydroxide supply, and expects that the prices of Chinese battery-grade nickel sulfate might remain stable in the following week.
With an annual production capacity of 55,000t, the company saw an output of 16,700t or so in 2023. It produced about 1,030t in February and 900t in March, holding no nickel sulfate inventory at the moment.
A producer in Southwest China reported that their quotation for battery-grade nickel sulfate Ni 22%min, Co 0.4%max was RMB31,000/t (USD4,286/t) delivered D/A on Tuesday, on par with last Friday . All orders for April have been signed and they will not accept price reductions for the time being. "We made no deal this Tuesday and last sold 256t at RMB30,500/t (USD4,217/t) delivered D/A at the end of March", a source from the company revealed, adding that their downstream customers also take a wait-and-see attitude towards the market this week affected by the continued decline in nickel cathode prices, but they will not accept price reductions based on the current nickel hydroxide supply shortage, and predicts that the prices of Chinese battery-grade nickel sulfate would keep flat in the upcoming week.
Based on an annual production capacity of 25,000t, the producer witnessed an output of around 12,200t in 2023. They produced 800t in February and about 1,100t in March, and hold no nickel sulfate stock for the moment.