SHANGHAI, Feb 9 (SMM) – On February 8, the price of SMM battery-grade nickel sulphate was 38,900 yuan/mt, versus 38,500 yuan/mt for cobalt sulphate, with the former surpassing the latter for the first time.
Recently, the cost support of cobalt sulphate has fallen sharply following the decline in the price of refined cobalt and the price coefficient of cobalt intermediate products. In view of weak downstream demand, the price of cobalt sulphate is expected to continue to fall.
In 2022, persistently deep discounts of nickel sulphate against pure nickel drove producers to ramp up production of electrodeposition nickel, which tightened nickel sulphate market.
With growing demand for nickel sulphate, the price inversion between nickel sulphate and cobalt sulphate will expand further.
