ArrowMetals signs nickel sulfate tolling deal for Q3 2021 production

ArrowMetals will become a seller of nickel sulfate after agreeing a tolling arrangement with Cyprus refinery Hellenic Minerals to produce battery-grade material.

Arrow, which is part of Arrow Resources, based at Steinhausen in Switzerland, has entered into a tolling agreement to supply Hellenic Minerals with the laterite raw materials needed to produce battery-ready sulfate containing 10,000 tonnes of nickel (around 45,000 tonnes of nickel sufate), the company said in a press release on Tuesday March 2.

“With commercial production of sulfate commencing as early as the third quarter of 2021, ArrowMetals is in advanced negotiations to supply various battery and precursor manufacturers in Asia and Europe,” it said.

The deal comes at a time when car makers are searching the world to secure supplies of nickel sulfate, prices of which have shot up in the main production area, China.

The price of nickel sulfate, min 21%, max 22.5%; cobalt 10ppm max, exw China, was assessed at 35,000-36,000 yuan ($5,402-5,556) per tonne on March 5. This price narrowed downward slightly from 35,000-38,000 yuan per tonne on February 26, which was the highest since Fastmarkets began pricing the market in July 2018.

Fastmarkets is currently proposing to launch a series of reference prices for nickel sulfate sold into the China, Japan and South Korean markets.

ArrowMetals is a nickel- and oil-focused trading house, and accounts for 15% of the global supply of ferronickel, according to its website.

What to read next
Fastmarkets has corrected the pricing rationale for MB-AL-0302 aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region), $/tonne, which was published incorrectly on Friday April 19. No prices were corrected.
China's stainless steel prices saw a notable increase last week, driven by global sanctions affecting nickel, which is a key component
Both NBSK pulp and BEK pulp prices jumped up in March, with more price hikes announced
The key discussion topics across the battery raw materials sector ahead of Fastmarkets' Asian Battery Raw Materials conference taking place in Seoul on April 22-23
The European sack kraft paper market continued to warm into the spring as optimism improved, especially among producers, and price increases for both bleached and unbleached sack kraft paper were applied as Q2 got underway. The UK saw increases of £40/tonne on unbleached paper and £40/tonne on bleached paper, the first of what some contacts […]
Metal exchanges will be prohibited from accepting these metals from Russia, said releases from the US and UK governments on Friday April 12