SHANGHAI, Aug 12 (SMM) - Quotations of battery-grade nickel sulphate (crystal) stood stable between 38,000-39,000 yuan/mt this week amid sluggish trade. The high nickel sulphate prices were under greater pressure as nickel prices fell, and some upstream companies reported that they could lower the prices to 38,500 yuan/mt because downstream users were less willing to accept the prices at 39,000 yuan/mt.
However, the nickel sulphate prices are unlikely to further drop as nickel prices fluctuate above 140,000 yuan/mt.
Premiums of nickel briquette remained low. The arrivals increased, and the autolysis was in full capacity. The market supply of nickel briquette was sufficient recently, and the autolysis cost further declined. The expanded profits may lead to the construction of new nickel briquette autolysis production lines.
The prices of battery-grade nickel sulphate are expected to stand stable.