SHANGHAI, Apr. 22 (SMM) – In 2015, nickel sulfate price succeeded to hold stable against the back drop of sharp decline in nickel market. What’s the outlook for nickel sulfate in 2016? 

The main reason behind stable price of nickel sulfate in 2015 is due largely to significant growth of ternary material, its major consumer. 

Booming New Energy Vehicle Sector to Boost Demand for Ternary Material Battery, SMM Reports

According to SMM data, output of ternary material (Ni-Co-Mn-Li) registered a year-on-year 65.22 per cent growth in 2015, the biggest increase in nearly 5 years, up 50 percentage points on a yearly basis. 

“Supply, consumption and raw material resources are closely linked to its price, and these will determine its price in 2016,” said Cobalt & Specialty Materials (CSM) at 2016 SMM Cathode Material Conference in Wuhan, the largest business unit within Umicore business group. 

China’s nickel sulfate production has been rising steadily since 2010, and output grew to around 100,000 tonnes in 2015, or around 20,000 tonnes measured in metal content. 

“Output is expected to increase to 125,000 tonnes in 2016, with annual capacity around 160,000 tonnes,” Umicore predicted at the summit, adding the impact from import and export market is expected to be small, 

The booming new energy vehicle sector will be continuing support nickel sulfate market, the company added.  

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