According to Mysteel new sample, China's nickel sulfate production stood at 188,400 tonnes in April or 41,500 tonnes in Ni. content, a monthly increase of 21.57%. The production consisted by 0.96% nickel briquette/powder, 63.57% MHP, 27.6% high-grade nickel matte, and 7.86% secondary nickel by raw material.
Source: Mysteel
China's nickel production continued to rise in April subject to the resilient end-market demand, especially those with successful const control. Some producers purchased nickel briquette and powder to produce nickel sulfate when the nickel price was low, but the overall volume was insignificant.
Mysteel expects China's nickel sulfate production to pull back 10.36% MoM at 37,200 tonnes in Ni. content in May. The cut is likely to be triggered by sagging demand for NMC batteries in May, and some producers will shift the production focus to nickel plate.
Written by Aggie Hu, huchenying@mysteel.com