Chinese battery grade nickel sulfate prices to decline
2024-04-09 13:01:16 [Print]
BEIJING (Asian Metal) 9 Apr 24 - This week, depressed by the decline in nickel hydroxide price, battery grade nickel sulfate consumers have strong wait-and-see sentiment. On Monday, mainstream prices for Chinese battery grade nickel sulfate Ni 22%min; Co 0.4%max stood at RMB30,300-30,800/t (USD4,191-4,260/t) delivered D/A, stable from Wednesday. Insiders said that the price of nickel hydroxide, the raw material of battery grade nickel sulfate, is dropping at present, and downstream customers become less interested in purchasing, so prices for Chinese battery grade nickel sulfate might move down in the week to come.
A producer in East China reported that the nickel hydroxide coefficient of their supplier stands at 80% this week, down from about 82% in late March, which shows the production cost was reduced. "On Monday, we could accept a price as low as RMB30,300/t (USD4,191/t) delivered D/A for battery grade nickel sulfate Ni 22%min; Co 0.4%max, unchanged from Wednesday. We have not closed deals after the Tomb Sweeping Day, while last sold 2,000t at RMB30,500/t (USD4,218/t) delivered D/A early last week," the source said, adding that consumers wait and see the market at present and constantly depress the purchase price, so prices for Chinese battery grade nickel sulfate might slide in the coming week.
With an annual production capacity of 60,000t, the producer produced about 21,300t in 2023. Holding no stock now, they produced about 1,800t and 3,400t in February and March respectively.
Another producer in East China revealed that the nickel hydroxide coefficient of their raw material supplier fell from about 82% in late March to 80.5% after the Tomb Sweeping Day. "On Monday, we would not sell battery grade nickel sulfate Ni 22%min; Co 0.4%max at prices lower than RMB30,300/t (USD4,191/t) delivered D/A, stable from the prices before the Tomb Sweeping Day. We sold 3t at RMB30,700/t (USD4,246/t) delivered D/A last Sunday and 300t at RMB30,500/t (USD4,218/t) delivered D/A in early April," the source said, adding the production cost of battery grade nickel sulfate declines at the moment, and consumers become less interested in purchasing, so prices for Chinese battery grade nickel sulfate might go down in the following week.
With an annual production capacity of 27,000t, the company produced about 10,800t in 2023. They produced about 450t and 1,350t in February and March respectively, holding no stock now.
A producer in East China reported that the nickel hydroxide coefficient of their supplier stands at 80% this week, down from about 82% in late March, which shows the production cost was reduced. "On Monday, we could accept a price as low as RMB30,300/t (USD4,191/t) delivered D/A for battery grade nickel sulfate Ni 22%min; Co 0.4%max, unchanged from Wednesday. We have not closed deals after the Tomb Sweeping Day, while last sold 2,000t at RMB30,500/t (USD4,218/t) delivered D/A early last week," the source said, adding that consumers wait and see the market at present and constantly depress the purchase price, so prices for Chinese battery grade nickel sulfate might slide in the coming week.
With an annual production capacity of 60,000t, the producer produced about 21,300t in 2023. Holding no stock now, they produced about 1,800t and 3,400t in February and March respectively.
Another producer in East China revealed that the nickel hydroxide coefficient of their raw material supplier fell from about 82% in late March to 80.5% after the Tomb Sweeping Day. "On Monday, we would not sell battery grade nickel sulfate Ni 22%min; Co 0.4%max at prices lower than RMB30,300/t (USD4,191/t) delivered D/A, stable from the prices before the Tomb Sweeping Day. We sold 3t at RMB30,700/t (USD4,246/t) delivered D/A last Sunday and 300t at RMB30,500/t (USD4,218/t) delivered D/A in early April," the source said, adding the production cost of battery grade nickel sulfate declines at the moment, and consumers become less interested in purchasing, so prices for Chinese battery grade nickel sulfate might go down in the following week.
With an annual production capacity of 27,000t, the company produced about 10,800t in 2023. They produced about 450t and 1,350t in February and March respectively, holding no stock now.
