Nickel sulphate prices have seen sustained upward pressure in early 2021, with EXW China and CIF Asia prices recording 18.5% and 11.9% increases YTD respectively - according to the February issue of the Benchmark Nickel Price Assessment.
These price increases are linked to an acceleration in lithium ion industry demand for nickel, in conjunction with the Chinese domestic market seeing a tightening availability of nickel sulphate and class 1 nickel feedstock suitable feedstock suitable for chemical conversion.
A tight supply of nickel intermediates, namely MHP (mixed hydroxide precipitate), has proven particularly challenging as demand has scaled, forcing . . .