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Nickel sulphate prices stood high amid tight spot supply, downstream restocking demand extended

iconJan 27, 2021 17:21
Source:SMM
China produced 77,800 mt of nickel sulphate in December 2020, up 6.07% on the month and 63.97% on the year. Among them, the output of battery grade nickel sulphate was 69,400 mt, and the output of electroplating-grade nickel sulphate was 8,400 mt.

SHANGHAI, Jan 27 (SMM)—China produced 77,800 mt of nickel sulphate in December 2020, up 6.07% on the month and 63.97% on the year. Among them, the output of battery grade nickel sulphate was 69,400 mt, and the output of electroplating-grade nickel sulphate was 8,400 mt. The market is optimistic about the end consumption in 2021. The demand for nickel sulphate was strong amid tight raw material supply and downstream manufacturers’ restocking prior to CNY. Most nickel sulphate plants are in full production.

China's demand for nickel sulphate stood at 7.92 mt in December, up 3.9% month on month and 105.1% year on year. Among them, 84.1% of the total demand went to the new energy battery industry. In December, China's ternary precursor output increased by 4.6% month on month to 41,000 mt. In recent months, orders from domestic and overseas motive markets kept increasing, and the demand for precursors by leading battery companies were rising.

In addition, the demand from small motive and consumer markets has basically stabilised, and the total output of precursors increased steadily month by month, driving the demand for battery-grade nickel sulphate. Other downstream demand for nickel sulphate is basically stable. The overall domestic demand for nickel sulphate in January is expected to be basically flat from December 2020, at a high level of 17,400 mt (Ni content)

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