SHANGHAI, May 4 (SMM) - On April 28, quotes of battery-grade nickel sulphate were 34,000-34,800 yuan/mt, down 750 yuan/mt WoW. SMM battery-grade nickel sulphate price index was 34,202 yuan/mt, down 1,035 yuan/mt WoW.
Many enterprises in the new energy industry chain held a wait-and-see attitude toward nickel salt purchases last week when the Labour Day holiday came closer. Some nickel sulphate companies have started to reduce production since the end of March on poor demand, which, coupled with the high raw material prices, enabled some nickel sulphate producers to quote high nickel salt prices.
However, the downstream demand did not improve significantly compared with the previous week. The market mainly saw spots traded on rigid demand, and the trading volume still stood low, though downstream inquiries on nickel salt increased amid the stable lithium salt prices.
SMM presumes that if lithium salt prices stabilise for a long time or even rebound, the nickel salt demand from the precursor companies will grow greatly in May.
Nickel sulphate prices are expected to move between 33,800-35,500 yuan/mt this week.
