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nickel sulphate prices climb higher in May","chinese-nickel-sulphate-prices-climb-higher-in-may","article/chinese-nickel-sulphate-prices-climb-higher-in-may",{"_uid":557,"date":558,"tags":559,"editor":565,"content":575,"excerpt":726,"featured":51,"reporter":727,"_editable":731,"component":732,"seo_title":553,"categories":733,"visibility":739,"author_company":49,"featured_image":740,"seo_description":726,"author_full_name":49,"author_job_title":49,"formattedDate":744,"formattedArticleDate":745},"d04d8c77-9b78-4f68-b2a0-dc4248edff09","2024-06-12 00:00",[560,563],{"slug":561,"name":562},"china","China",{"slug":564,"name":564},"prices",[566],{"slug":567,"name":568,"content":569},"didi-bostock","Didi Bostock",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Editor - Energy Transition & Economics",{"filename":572},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":576,"content":577},"doc",[578,585,600,605,633,638,643,653,662,674,681,694,699,710,721],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582],{"text":583,"type":584},"Chinese nickel sulphate prices increased in May to reach their highest levels in 11 months as high feedstock costs and a scarce spot supply in recent weeks pushed prices higher.","text",{"type":579,"attrs":586,"content":587},{"textAlign":49},[588,590,598],{"text":589,"type":584},"Average prices for nickel sulphate in China increased 4.9% to RMB 32,000 ($4,416) per tonne in the week ending June 5, according to the ",{"text":591,"type":584,"marks":592},"Benchmark Nickel Price Assessment",[593],{"type":594,"attrs":595},"link",{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://www.benchmarkminerals.com/price-assessments/nickel/portal/?tab=table","url",{"text":599,"type":584},".",{"type":579,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":584},"Higher mixed hydroxide precipitate (MHP) prices pushed up sulphate prices causing some producers to stop production for the spot market in order to protect margins, resulting in a scarcer spot supply.",{"type":579,"attrs":606,"content":607},{"textAlign":49},[608,610,616,618,624,626,632],{"text":609,"type":584},"Further, unlike the bear cycle of 2023, Chinese nickel sulphate prices ",{"text":611,"type":584,"marks":612},"have increased all of this year",[613],{"type":594,"attrs":614},{"href":615,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/nickel-prices-rise-after-us-uk-sanctions-on-russian-metal",{"text":617,"type":584}," so far, except for a marginal drop in April after producers finished restocking ",{"text":619,"type":584,"marks":620},"inventories",[621],{"type":594,"attrs":622},{"href":623,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/nickel-miners-struggle-amid-falling-prices-supply-glut",{"text":625,"type":584}," in the three ",{"text":627,"type":584,"marks":628},"months ended March",[629],{"type":594,"attrs":630},{"href":631,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/chinese-nickel-price-drop-pauses-as-cathode-makers-top-up-inventory",{"text":599,"type":584},{"type":579,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":584},"“The main reason nickel prices have recovered this year is because nickel cobalt manganese (NCM) cathode demand picked back up at the start of the year,” said Spencer Ingall, analyst at Benchmark. ",{"type":579,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":584},"“Following this, restocking by cathode makers further pushed prices up, which was then supported by high feedstock costs,” said Ingall.",{"type":579,"attrs":644,"content":645},{"textAlign":49},[646,648,652],{"text":647,"type":584},"Chinese nickel sulphate prices have increased 28% so far this year, according to the ",{"text":591,"type":584,"marks":649},[650],{"type":594,"attrs":651},{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":597},{"text":599,"type":584},{"type":579,"attrs":654,"content":655},{"textAlign":49},[656],{"type":657,"attrs":658},"image",{"id":49,"alt":659,"src":660,"title":49,"source":49,"copyright":49,"meta_data":661},"","https://a.storyblok.com/f/287943243085208/90c0a0049e/bm-nickel-price-chart-1.png",{},{"type":579,"attrs":663,"content":664},{"textAlign":49},[665,667,673],{"text":666,"type":584},"However, prices may not rise further as demand from major NCM cathode producers is expected to be down by up to 30% in June on a month-on-month basis, according to the",{"text":668,"type":584,"marks":669}," Benchmark Lithium Price Assessment",[670],{"type":594,"attrs":671},{"href":672,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://www.benchmarkminerals.com/price-assessments/lithium/portal/?tab=table",{"text":599,"type":584},{"type":675,"attrs":676,"content":678},"heading",{"level":677,"textAlign":49},4,[679],{"text":680,"type":584},"LME, MHP prices up",{"type":579,"attrs":682,"content":683},{"textAlign":49},[684,686,692],{"text":685,"type":584},"Last month, nickel production ",{"text":687,"type":584,"marks":688},"halted in New Caledonia following",[689],{"type":594,"attrs":690},{"href":691,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/new-caledonia-unrest-deepens-nickel-industry-crisis",{"text":693,"type":584}," political unrest sent London Metal Exchange nickel prices higher by more than 8%, breaching the $20,000 per tonne mark for the first time since July 2023.",{"type":579,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":584},"MHP prices have also increased in the past two months as continued delays in mining permit approvals in Indonesia has forced some refiners in the country to import ores at a higher price from neighbouring Philippines to meet the demand. ",{"type":579,"attrs":700,"content":701},{"textAlign":49},[702,704,708],{"text":703,"type":584},"Nickel MHP CIF Asia prices have increased 27.9% to $15,932 per tonne so far this year, according to the ",{"text":591,"type":584,"marks":705},[706],{"type":594,"attrs":707},{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":597},{"text":709,"type":584},". The pace of price increase for MHP has quickened in the past two months, rising 17%. ",{"type":579,"attrs":711,"content":712},{"textAlign":49},[713,715,719],{"text":714,"type":584},"Nickel MHP CIF Asia traded at a 78-80% payable range in the week ending June 5, a decline of 1.5 percentage points, according to the ",{"text":591,"type":584,"marks":716},[717],{"type":594,"attrs":718},{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":597},{"text":720,"type":584},". ",{"type":579,"attrs":722,"content":723},{"textAlign":49},[724],{"text":725,"type":584},"“The rise in MHP prices due to delays in mining permits, facilities not able to provide correct certification, resulting in delays in exports and growing inventories, have pushed up sulphate prices this year,” said Ingall.","Chinese nickel sulphate prices increased in May to reach their highest levels in 11 months as high feedstock costs and a scarce spot supply in recent weeks pushed prices higher. Average prices for nickel sulphate in China increased 4.9% to RMB 32,000 ($4,416) per tonne in the week ending June 5, according to the Benchmark […]",[728],{"slug":567,"name":568,"content":729},{"job_title":570,"image":730,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"d04d8c77-9b78-4f68-b2a0-dc4248edff09\", \"id\": \"\"}-->","article",[734,737],{"slug":735,"name":736},"critical-minerals","Critical Minerals",{"slug":738,"name":151},"nickel","private",{"id":49,"alt":659,"name":659,"focus":659,"title":659,"source":659,"filename":741,"copyright":659,"fieldtype":742,"meta_data":743,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/609b8999df/bm-price-update-4.png","asset",{"alt":659,"title":659,"source":659,"copyright":659},"Jun 12, 2024","12th June 2024",[],[],1789982575910]