Prices of Battery-grade Nickel Sulphate Unlikely to Grow in the Short Term

SHANGHAI, Apr 3 (SMM) - The shrinking demand for battery-grade nickel sulphate last week further highlighted the mismatch between supply and demand, thus the prices declined rapidly. On the demand side, the average operating rate of ternary precursor producers was 30%-40% amid the reduction of downstream orders. And the manufacturers which produced finished products with nickel sulphate did not restock raw materials on the narrow spread between nickel sulphate and pure nickel. Spot nickel sulphate market has been in a supply surplus recently on the weakening demand, dragging down nickel sulphate prices. In the short term, the demand for nickel sulphate can hardly improve, hence the prices will continue to fall. The prices will be 35,500-36,500 yuan/mt this week.