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Home / Metal News / Nickel Sulphate Prices Slumped in December amid Falling Demand, and Will Head for Further Decline in January

Nickel Sulphate Prices Slumped in December amid Falling Demand, and Will Head for Further Decline in January

Jan 12, 2023 14:59

Source:SMM

SHANGHAI, Jan 12 (SMM) - The domestic nickel sulphate market saw a surplus of 1,858 mt in nickel content in December amid faltering demand, resulting in steep declines in its prices.

SHANGHAI, Jan 12 (SMM) - The domestic nickel sulphate market saw a surplus of 1,858 mt in nickel content in December amid faltering demand, resulting in steep declines in its prices. Transactions in the battery-grade nickel sulphate market were muted. The production cuts by nickel sulphate smelters slightly lagged behind the output reduction by precursor plants, leading to oversupply. Sell-off amid tightening liquidity at year-end made the prices to drop more rapidly.

In January, nickel sulphate prices are forecast to go down further as the supply glut will extend amid sagging demand.

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