Chinese battery grade nickel sulfate prices to remain steady
2024-04-18 10:49:02 [Print]
BEIJING (Asian Metal) 18 Apr 24 - The current nickel hydroxide coefficient is 79%-80% and suppliers do not accept the decline of the coefficient, which has a strong support for battery grade nickel sulfate. This Wednesday, mainstream prices for Chinese battery grade nickel sulfate Ni 22%min; Co 0.4%max stood at RMB30,100-30,600/t (USD4,158-4,227/t) delivered D/A, in line with last Friday. Insiders said that the current battery grade nickel sulfate market supply shows tight and nickel hydroxide raw material prices keep firm, and estimate that prices for Chinese battery grade nickel sulfate would level off in the week to come.
A producer in Southwest China reported this week they quoted RMB30,400/t (USD4,200/t) delivered D/A for battery grade nickel sulfate Ni 22%min; Co 0.4%max and could accept the price as low as RMB30,200/t (USD4,172/t) delivered D/A for regular clients, stable compared with last Friday. "We did not close a deal this week and last sold 200t at RMB30,400/t (USD4,200/t) delivered D/A at the end of March", a source from the company noted, adding that the current nickel hydroxide coefficient keeps firm at about 80% and suppliers do not accept bargaining, with strong cost support. In addition, the current battery grade nickel sulfate market supply appears tight, he expects that prices of Chinese battery grade nickel sulfate might remain unchanged in the following week.
With an annual production capacity of 25,000t, the producer saw an output of 12,200t or so in 2023. He produced 1,100t in March and expects to produce around 1,300t in April, holding no nickel sulfate stock at the moment.
A consumer in East China mentioned that in mid-April the nickel hydroxide coefficient was firm at about 79%, which had a strong support for battery grade nickel sulfate, and their suppliers do not accept price reduction at present. "This Wednesday our suppliers refused to sell battery grade nickel sulfate liquid Ni 22%min; Co 0.4%max at the price lower than RMB29,500/t (USD4,075/t) delivered D/A, on par with last Friday. We made no deal on Wednesday and purchased 450t of battery grade nickel sulfate liquid at RMB29,500/t (USD4,075/t) delivered D/A on Monday", a source from the company revealed, adding that the current supply of battery grade nickel sulfate keeps tight. Coupled with the firm price of raw material nickel hydroxide, he predicts that prices for Chinese battery grade nickel sulfate would keep flat in the upcoming week.
Based on an annual consumption capacity of 200,000t, the consumer used about 7,000t in March and expects to use a similar volume in April, holding about 800t of battery grade nickel sulfate stocks in the plant for the time being.
A producer in Southwest China reported this week they quoted RMB30,400/t (USD4,200/t) delivered D/A for battery grade nickel sulfate Ni 22%min; Co 0.4%max and could accept the price as low as RMB30,200/t (USD4,172/t) delivered D/A for regular clients, stable compared with last Friday. "We did not close a deal this week and last sold 200t at RMB30,400/t (USD4,200/t) delivered D/A at the end of March", a source from the company noted, adding that the current nickel hydroxide coefficient keeps firm at about 80% and suppliers do not accept bargaining, with strong cost support. In addition, the current battery grade nickel sulfate market supply appears tight, he expects that prices of Chinese battery grade nickel sulfate might remain unchanged in the following week.
With an annual production capacity of 25,000t, the producer saw an output of 12,200t or so in 2023. He produced 1,100t in March and expects to produce around 1,300t in April, holding no nickel sulfate stock at the moment.
A consumer in East China mentioned that in mid-April the nickel hydroxide coefficient was firm at about 79%, which had a strong support for battery grade nickel sulfate, and their suppliers do not accept price reduction at present. "This Wednesday our suppliers refused to sell battery grade nickel sulfate liquid Ni 22%min; Co 0.4%max at the price lower than RMB29,500/t (USD4,075/t) delivered D/A, on par with last Friday. We made no deal on Wednesday and purchased 450t of battery grade nickel sulfate liquid at RMB29,500/t (USD4,075/t) delivered D/A on Monday", a source from the company revealed, adding that the current supply of battery grade nickel sulfate keeps tight. Coupled with the firm price of raw material nickel hydroxide, he predicts that prices for Chinese battery grade nickel sulfate would keep flat in the upcoming week.
Based on an annual consumption capacity of 200,000t, the consumer used about 7,000t in March and expects to use a similar volume in April, holding about 800t of battery grade nickel sulfate stocks in the plant for the time being.
