In April, China's nickel sulfate production reached 254,200 tonnes, or 55,900 tonnes in Ni. content (based on Mysteel's sample of 60 enterprises), down 3.05% month-on-month. The production comprised 0% nickel briquette/powder, 54.21% MHP, 36.39% high-grade nickel matte, 7.97% secondary nickel by raw material, and 1.43% NPI. This includes approximately 15,700 tonnes of nickel sulfate used to produce nickel plate.
Source: Mysteel
On the demand side, orders for downstream ternary batteries and ternary precursors remained weak. Compounded by tariff policy impacts on exports and active destocking by the industry, the procurement was largely limited to essential needs. Demand for electrolytic nickel and electrowinning nickel also declined month-on-month, further reducing nickel sulfate demand. On the supply side, raw materials such as MHP and high-grade nickel matte continued to face tight supply and high prices, leading to negative profit margins for nickel sulfate production. Non-integrated producers were forced to cut production or maintain production based on sales. Squeezed by both weak demand and tight supply, nickel sulfate production declined significantly month-on-month in April.
For May 2026, China's nickel sulfate production is estimated at approximately 51,700 tonnes in Ni. content, down 7.51% month-on-month.
Written by Cora Ji, jiruyan@mysteel.com
