China Nickel Sulphate Output Fell Sharply In April

Chinese nickel sulphate output stood at 137,100 mt in physical content or 30,200 mt in metal content, down 18.29% on the month and 39.43% on the year. The following reasons accounted for the sharp MoM drop in domestic nickel sulphate production in April.

First, the demand recovery of ternary precursor manufacturers did not expectations, and nickel sulphate producers barely accepted the low prices. Therefore, except for long-term orders, there were few trades under small orders.

Second, in April, upstream raw material enterprises of nickel sulphate raised prices and the profitability of nickel sulphate with then processing fees was relatively poor, driving some nickel sulphate enterprises into serious losses and to reduce production. Third, some nickel sulphate liquid producers cut output significantly due to ballooning inventory.

In May, according to SMM's analysis, the production schedule of downstream ternary manufacturers is not expected to improve significantly compared with April. And some enterprises that suspended production have no plan to resume production in May. Nickel sulphate output is estimated at 31,200 mt in Ni content in May, flat from the prior month.

More popular news:

'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices

Copper Shortage Is Irreparable Even after Biggest Mergers and Acquisitions, Here’s Why

Rio Tinto Warns of Risks for Paying High Premiums for Lithium Mines after Plunging Lithium Prices Triggered Acquisition Rush

UBS Raises China GDP Growth Forecast, Sees Earnings from China Stock Market Soaring, RMB Appreciating

SMM Daily Comments (May 9): Most LME Base Metals Closed Lower, SHFE Nickel Prices Plunge, Ferrous Metals Mostly Rose

A Bull Gold Market Has Just Begun 

JPMorgan: How to Invest Amid a Likely Recession? Investors are Turning to Gold and Tech Stocks

SMM Daily Comments (May 4): Coking Coal and Oil Prices Plunge, SHFE Nickel Soar, Gold Hit Record High

IMF Slashes Saudi Arabia GDP Growth 2023-2024, Saying the Country Can’t Achieve Budget Balance This Year unless International Oil Prices Surge to $81 per Barrel

JPMorgan Asset Management: US Treasury Bonds will Strengthen

CPCA: China Passenger Car Sales Increased In April

Fitch Ratings Raises Saudi Arabia IDR, Says World Bank Reason and High Dependence on Oil Remain a Weakness for the Country's Rating

Sharp Output Cuts Led to Lithium Ore Shortages, High Import Prices Drove Lithium Salt Producers to Shut Down

US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters

Russia is Accelerating Technology to Become Top Liquefied Natural Gas Supplier by Tripling Exports By 2030

No Other Country can Replace China's Manufacturing Industry Including India

Global Manufacturing PMI in April Points to Greater Downward Pressure on Global Economy

SMM Daily Comments (May 5): LME Base Metals Rose across the Board, SHFE Nickel Plunged