Battery-Grade Nickel Sulphate Prices to Extend Declines in April

SHANGHAI, Apr 19 (SMM) – Entering April, weakening demand has continued to weigh on nickel sulphate prices. At present, both nickel sulphate and ternary cathode precursor producers are selling at discounts amid poor demand. Crystalline nickel sulphate is on sale in the market at a discount of 5%, and nickel sulphate producers are suffering losses at the current prices. However, ternary cathode precursor companies intend to purchase at discounts of 7%, thus the transactions were scarce. Poor orders forced some ternary cathode precursor plants to cut or halt their production, dragging down operating rates in the industry to merely 30-60%. This hurt the demand for nickel sulphate and intensified market competition. With no signs of demand recovery, there is still downside room for nickel sulphate prices in April. SMM expects nickel sulphate prices to move between 34,000-36,750 yuan/mt this month.