SMM4, March 10: since the beginning of March, the price of nickel sulfate continued to fall. As of April 10, the average price of nickel sulfate in SMM was 26000 yuan / ton, down 2000 yuan from 28000 yuan / ton at the beginning of March. Affected by the epidemic situation, the downstream consumer demand of nickel sulfate continues to be weak. In comparison, nickel sulfate is in a state of supply exceeding demand. In addition, the price of nickel sulfate has fallen for a month in a row for enterprises to ship goods at a low price for the withdrawal of funds.
According to SMM data, China's nickel sulfate production increased by 62.39% month-on-month in March, down 14.72% from the same period last year, and the total demand for nickel sulfate increased by 36% and 22% compared with the same period last year, among which the total nickel sulfate consumption of new energy batteries increased by 62% month-on-month. SMM expects domestic nickel sulfate production to increase slightly in April, and downstream demand continues to weaken.
Since April, some nickel sulfate manufacturers have been willing to raise prices, and some enterprises under greater financial pressure to continue to withdraw funds to continue to ship at low prices, battery-grade nickel sulfate market price difference widened. According to SMM, the recent battery grade nickel sulfate market 22000-24000 yuan / ton includes the mainstream quotation and market transaction price. The difference between the highest and lowest prices can reach 2000 yuan per ton.
SMM believes that some of the quoted and transaction prices are mostly small and medium-sized nickel sulfate plants, this year's epidemic hit the global economy, affecting the flow of funds in nickel sulfate plants is not good, small and medium-sized plants because the monthly output is relatively small, the long orders are also relatively small, more low-cost shipments to solve the problem of inventory and capital circulation. Some of the nickel sulfate plants with higher quotations are those with a long single monthly output of 40%-60% and some orders that are full or are not in a hurry to turn around because of the cost of nickel sulfate raw materials.
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