According to the latest data from China Customs, China's total nickel sulphate imports in March 2026 reached 6,530 mt in metal content, up 17% MoM and up 61% YoY. China's nickel sulphate exports totaled 114 mt in metal content, up 249% MoM and up 31% YoY. Net imports of nickel sulphate in March 2026 stood at 6,416 mt in metal content, up 16% MoM and up 62% YoY. By country, exports to Japan rose this month, driving total exports higher. On the import side, imports from Indonesia, South Korea and other countries increased this month. Although imports from Finland pulled back, total imports still posted notable growth. Net imports of nickel salts rose this month, largely in line with last month's expectations.

On April 20, the SMM battery-grade nickel sulphate average price remained stable.

On April 17, the SMM average price of battery-grade nickel sulphate rose significantly.

Raw material side, lithium carbonate prices held up well this week due to supply disruptions caused by Zimbabwe's latest policy and mine license renewals in Jiangxi. Nickel salt prices fluctuated, while the cobalt salt market was lackluster with prices edging down.

On April 15, the SMM battery-grade nickel sulphate average price rose.

On April 13, the SMM battery-grade nickel sulphate average price declined slightly.

Nickel Intermediate Product Market Weekly Review: Continued Weakness in Both Supply and Demand, MHP Payables Under Pressure

On April 3, the SMM average price of battery-grade nickel sulphate declined slightly.

This Week, the MHP and High-Grade Nickel Matte Markets Showed a Pattern of Weak Supply and Demand on Both Sides, with the Coefficient Remaining Stable

Weak Downstream Procurement Sentiment, Slight Decline in Nickel Salt Prices As of Thursday this week, the average SMM battery-grade nickel sulphate price edged down WoW. Demand side, as it was a procurement period, some producers had made inquiries recently, but because overall downstream orders fell short of expectations, acceptance of high-priced nickel salt was relatively weak; supply side, as MHP payables and auxiliary material prices had moved up recently, raw material costs for some producers increased, and quoted prices were raised accordingly. Looking ahead, cost support for nickel salt remained in place, but upside room for prices will depend on the downstream procurement pace. Inventory, this week the inventory index at upstream nickel salt smelters rose from 4.7 days to 5.3 days, the inventory index at downstream precursor plants increased from 6.5 days to 7.8 days, and the inventory index at integrated enterprises rose from 6.8 days to 7 days; in terms of buyer-seller strength, this week the Willingness to Sell Sentiment Factor at upstream nickel salt smelters held at 1.8, the procurement sentiment factor at downstream precursor plants held at 2.6, and the sentiment factor at integrated enterprises held at 2.4. (Historical data is available in the database.)