In January, China's nickel sulfate production was 238,000 tonnes, or 52,400 tonnes in Ni. content, marking a month-on-month increase of 15.5%. The production comprised 0% nickel briquette/powder, 56.63% MHP, 34.65% high-grade nickel matte, 7.20% secondary nickel by raw material, and 1.53% NPI. This includes approximately 12,900 tonnes of nickel sulfate used to produce nickel plate.
Source: Mysteel
During January, demand for nickel sulfate from the downstream ternary sector increased significantly due to a push to fulfill export orders and to build inventory ahead of the Chinese New Year holiday in February. Meanwhile, high nickel prices encouraged downstream nickel plate producers to maintain active production. Furthermore, some nickel sulfate plants built pre-holidary stockpiles ahead of February, collectively driving the substantial growth in the production of nickel sulfate in January.
China's nickel sulfate production in February is forecasted at 43,200 tonnes in Ni. content, down 17.51% month-on-month. Entering February, the number of working days reduced due to the Spring Festival holiday in China. With demand largely released in January, coupled with maintenance shutdowns or technical upgrades at some plants, nickel sulfate production is projected to decline noticeably in February.
Written by Cora Ji, jiruyan@mysteel.com
