China's nickel sulfate production stood at 183,800 tonnes in September, or 40,400 tonnes in Ni. content, down 1.34% month on month (MoM) according to Mysteel survey. The production comprised 0% nickel briquette/powder, 61.9% MHP, 29.66% high-grade nickel matte, and 8.44% secondary nickel by raw material.
In September, low nickel sulfate profits led some non-integrated companies to reduce production. Additionally, a drop in exports of integrated ternary precursors further reduced demand for nickel sulfate, causing a slight overall decline in production.
Source: Mysteel
It is likely that Chinas nickel sulfate production will decline 1.41% MoM at 39,900 tonnes in October, and around 11,700 tonnes of nickel sulfate will be used to produce nickel plates. As overseas demand declines and domestic companies face inventory buildup, combined with firm nickel prices, nickel sulfate profits are expected to remain weak. Consequently, nickel sulfate production is likely to decrease further in October.
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Written by Cora Ji, jiruyan@mysteel.com
