China's nickel sulphate output in December 2023 was 31,000 mt in metal content and 140,800 mt in physical content, down 14.32% MoM and 17.58% YoY. End-of-year order reductions and inventory cuts in downstream sectors led to less demand, affecting upstream factories. December saw weak inquiries and transactions for nickel sulphate, with low prices leading to poor profitability, causing salt factories to cut production.
January's precursor scheduled production and nickel sulphate demand stayed weak, with profits still low, suggesting nickel sulphate continued scant supply. China's projected January 2024 nickel sulphate output is about 29,100 mt in metal content and 132,100 mt in physical content, down 6.71% MoM and 6.85% YoY.
