Nickel Sulphate Market was Cold and the Transactions were Thin

SHANGHAI, Jan 16 (SMM) - The prices of battery-grade nickel sulphate stood at 36,500-37,000 yuan/mt last Friday, down 550 yuan/mt from a week earlier. SMM battery-grade nickel sulphate price index stood at 36,602 yuan/mt last week, down 758 yuan/mt from a week earlier. The market was extremely cold last week as some integrated precursor enterprises stopped the production and purchased precursor from the market. Meanwhile, the ternary precursor plants that have completed the long-term orders and were with sufficient raw material inventory had no procurement plans before February. On the supply side, the market supply was still in surplus. As such, some nickel salt manufacturers tried to make transactions with enterprises in the new energy sector to ease the inventory pressure. The price decline of nickel sulphate is inevitable amid the weak demand and strong supply. However, the decline pace may slow down amid the cost support and the nickel sulphate price will be 36,200-36,700 yuan/mt.