November 2023 saw national nickel sulphate production in China at 36,100 mt in metal content and 164,300 mt in physical content, down 6.39% MoM and 14.77% YoY. The market faced a bearish trend, with year-end inventory reductions and weak demand for nickel sulphate. Some nickel salt firms' slight inventory surplus in October led to reduced production in November, causing the production drop.
December's nickel sulphate market struggled due to reduced precursor company orders, lowering production schedules and demand. Nickel sulphate prices fell to historic lows, hurting manufacturers' profits. Additionally, some factories scheduled maintenance. These factors suggest a continued production drop, with an expected 14.65% MoM decrease from November.
