[{"data":1,"prerenderedAt":731},["ShallowReactive",2],{"ticker-data":3,"story-article/chinese-nickel-sulphate-prices-near-three-year-low-amid-weak-battery-demand":540},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":729,"relatedVideos":730},112470818461852,"bb52ce5e-634b-4139-b03e-4ccc0637a7c5","Chinese nickel sulphate prices near three-year low amid weak battery demand","chinese-nickel-sulphate-prices-near-three-year-low-amid-weak-battery-demand","article/chinese-nickel-sulphate-prices-near-three-year-low-amid-weak-battery-demand",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":709,"featured":51,"reporter":710,"_editable":714,"component":715,"seo_title":543,"categories":716,"visibility":722,"author_company":49,"featured_image":723,"seo_description":709,"author_full_name":49,"author_job_title":49,"formattedDate":727,"formattedArticleDate":728},"21444911-7382-4a66-a416-730efaa94d64","2023-09-08 00:00",[550,553,556],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"nickel-prices","Nickel prices",{"slug":557,"name":558},"nickel-refining","nickel refining",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"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":570,"content":571},"doc",[572,579,584,589,594,599,604,609,614,619,624,629,638,645,658,671,676,681,694,699,704],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"Chinese nickel sulphate prices fell to a near three-year low in August amid a continued weak downstream demand recovery for nickel cobalt manganese (NCM) cathodes used in electric vehicle batteries.","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582],{"text":583,"type":578},"Average prices for nickel sulphate in China declined 5.7% in August to RMB 31,250 ($4,281) per tonne, reaching their lowest level since December 2020, according to Benchmark’s Nickel Price Assessment. ",{"type":573,"attrs":585,"content":586},{"textAlign":49},[587],{"text":588,"type":578},"The latest decline follows a brief increase in prices in the previous two months when there was a moderate recovery in demand sentiment. ",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":578},"Chinese sulphate prices bottomed-out at the RMB 30,000 mark towards the end of August. The NCM market may pick up a bit in September, with prices unlikely to “venture underneath the RMB 30,000 mark,” said Spencer Ingall, an analyst with Benchmark. ",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":578},"A bulk of the battery demand for nickel comes from the NCM cathode segment, where a sustained period of quiet demand has sent prices lower.",{"type":573,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":578},"“Currently markets that use lithium iron phosphate (LFP) batteries are seeing much higher demand than those which use NCM batteries,” Ingall said.",{"type":573,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":578},"The decline in demand and prices has also pushed sulphate producers to sell predominantly to Class I nickel makers instead as nickel cathode still trades at a higher price on the Shanghai Futures Exchange (SHFE), a move aimed at protecting their margins. ",{"type":573,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":578},"“Despite high nickel cathode prices, cathode refiners have been placing low sulphate offers,” said Ingall.",{"type":573,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":578},"Nickel cathode is a type of Class 1 metal that is sold on the SHFE. In China, nickel sulphate sells at a significant discount to the SHFE nickel cathode price, implying that Class 1 refiners are able to take advantage of this arbitrage and produce nickel cathode from nickel sulphate while still maintaining a good profit margin. ",{"type":573,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":578},"In contrast, outside China the CIF Asia sulphate price trades at a premium to the London Metal Exchange nickel price.",{"type":573,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":578},"“Spot traders have been selling to these refineries as they are receiving so few offers from NCM manufacturers,” said Ingall.",{"type":573,"attrs":630,"content":631},{"textAlign":49},[632],{"type":633,"attrs":634},"image",{"id":49,"alt":635,"src":636,"title":49,"source":49,"copyright":49,"meta_data":637},"","https://a.storyblok.com/f/287943243085208/127e0ed4a0/bm-china-nickel-price-1.png",{},{"type":639,"attrs":640,"content":642},"heading",{"level":641,"textAlign":49},3,[643],{"text":644,"type":578},"Indonesia’s nickel growth",{"type":573,"attrs":646,"content":647},{"textAlign":49},[648,656],{"text":649,"type":578,"marks":650},"Indonesia",[651],{"type":652,"attrs":653},"link",{"href":654,"uuid":49,"anchor":49,"target":49,"linktype":655},"https://source.benchmarkminerals.com/article/indonesia-moves-up-the-nickel-value-chain-with-huayou-nickel-sulphate-plant","url",{"text":657,"type":578}," is also expected to see increased capacity, with new projects being planned, new projects coming online as well as projects ramping up, Ingall said. ",{"type":573,"attrs":659,"content":660},{"textAlign":49},[661,663,669],{"text":662,"type":578},"In August, Chinese miner Zhejiang Huayou Cobalt signed a second ",{"text":664,"type":578,"marks":665},"agreement",[666],{"type":652,"attrs":667},{"href":668,"uuid":49,"anchor":49,"target":49,"linktype":655},"https://www.benchmarkminerals.com/price-assessments/nickel/huayou-and-vale-agree-to-develop-mhp-plant-in-indonesia-benchmark-nickel/",{"text":670,"type":578}," with Brazilian miner Vale to invest in nickel processing plant in Indonesia. The facility is expected to start production in early 2027.",{"type":573,"attrs":672,"content":673},{"textAlign":49},[674],{"text":675,"type":578},"“Such announcements strengthen confidence in a stable supply so buyers don’t feel the need to have to stockpile,” Ingall added.",{"type":573,"attrs":677,"content":678},{"textAlign":49},[679],{"text":680,"type":578},"Last year was a record year for capacity additions and expansions for refined nickel production. Benchmark is expecting further growth this year, largely driven by an increase in Indonesia’s nickel output.",{"type":573,"attrs":682,"content":683},{"textAlign":49},[684,686,692],{"text":685,"type":578},"Indonesian nickel production for the ",{"text":687,"type":578,"marks":688},"battery industry",[689],{"type":652,"attrs":690},{"href":691,"uuid":49,"anchor":49,"target":49,"linktype":655},"https://source.benchmarkminerals.com/article/nickel-demand-for-batteries-to-overtake-stainless-steel-in-late-2030s",{"text":693,"type":578}," is expected to more than double between 2023 and the end of this decade, thanks to significant Chinese investment in processing plants.",{"type":573,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":578},"Most of Indonesia’s nickel refining capacity addition is to produce MHP, an intermediate nickel product that needs to be further processed into nickel sulphate for use in batteries. ",{"type":573,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":578},"MHP oversupply has grown as Chinese battery manufacturers favour LFP cathodes for the time being, according to Benchmark. ",{"type":573,"attrs":705,"content":706},{"textAlign":49},[707],{"text":708,"type":578},"Despite the new capacity additions, nickel demand is expected to overtake supply in early 2028, according to Benchmark. ","Chinese nickel sulphate prices fell to a near three-year low in August amid a continued weak downstream demand recovery for nickel cobalt manganese (NCM) cathodes used in electric vehicle batteries. Average prices for nickel sulphate in China declined 5.7% in August to RMB 31,250 ($4,281) per tonne, reaching their lowest level since December 2020, according […]",[711],{"slug":561,"name":562,"content":712},{"job_title":564,"image":713,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"21444911-7382-4a66-a416-730efaa94d64\", \"id\": \"\"}-->","article",[717,720],{"slug":718,"name":719},"critical-minerals","Critical Minerals",{"slug":721,"name":150},"nickel","private",{"id":49,"alt":635,"name":635,"focus":635,"title":635,"source":635,"filename":724,"copyright":635,"fieldtype":725,"meta_data":726,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/cf196cdd45/bm-nickel-smelting-indonesia.jpg","asset",{"alt":635,"title":635,"source":635,"copyright":635},"Sep 08, 2023","8th September 2023",[],[],1781530294742]