SMM Weekly Battery-Grade Nickel Sulphate Market Review and Forecast

Published: May 4, 2023 11:13

Source: SMM

Save

SHANGHAI, May 4 (SMM) – The prices of battery-grade nickel sulphate were between 34,000-34,800 yuan/mt last Friday, down 750 yuan/mt from a week ago.

SHANGHAI, May 4 (SMM) – The prices of battery-grade nickel sulphate were between 34,000-34,800 yuan/mt last Friday, down 750 yuan/mt from a week ago. Wait-and-see sentiment dominated the entire new energy vehicle industry chain, causing nickel sulphate prices to keep falling. To cope with sluggish demand, some nickel sulphate enterprises have started to reduce production since the end of March. High raw material prices and lower inventory encouraged some nickel sulphate enterprises to hold their offers firm. Downstream enterprises still restocked mostly as needed. However, as lithium prices have shown signs of stabilising, inquiries picked up, even as the transactions remained thin. If lithium prices stabilise for an extended period or even rebound, there may be large-scale purchases of nickel sulphate in May. Battery-grade nickel sulphate prices are expected between 33,800-35,500 yuan/mt this week.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

15 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

15 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

15 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

15 hours ago