China's nickel sulfate production stood at 178,800 tonnes in October, or 39,300 tonnes in Ni. content, down 2.71% month on month (MoM) according to Mysteel survey. The production comprised 0% nickel briquette/powder, 59.44% MHP, 32.75% high-grade nickel matte, and 7.81% secondary nickel by raw material. In October, the profit and demand for China's nickel sulfate declined, leading to a slight decrease in overall production due to production cuts by some companies.
Source: Mysteel
It is likely that China's nickel sulfate production will decline 3.63% MoM at 37,900 tonnes in November, and around 11,700 tonnes of nickel sulfate will be used to produce nickel plates. The new energy sector is expected to enter the off-season, which will likely lead to a decline in demand for nickel sulfate. Some producers may remain profitable, while China's nickel sulfate is likely to enter its regular off-season, as Indonesian production increases.
Written by Cora Ji, jiruyan@mysteel.com
