CHINA NICKEL BRIQUETTE SNAPSHOT: Premium slides on weakening demand in batteries, stainless sectors

Key data from the Tuesday October 30 pricing session in Shanghai.

Key drivers
- Battery demand weakened slightly in the Chinese market over October, and it sent ripples into battery raw materials, including nickel briquette.
- Both duty-free and duty-paid nickel briquette is abundant in the Chinese domestic market.
- Nickel briquette was also hit by weak demand from the stainless steel sector in October. Fastmarkets MB’s price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,400-15,700 yuan ($2,208-2,251) per tonne including VAT for the week ended Wednesday October 31, down from 15,600-15,900 yuan per tonne on September 26.

Key quotes
“Nickel briquette is available to purchase whenever we want to, and the battery business isn’t good at the moment” - raw material procurer at a battery plant
“Demand for stainless steel isn’t as good as it was in September, which is historically a peak season” - nickel briquette trader
“Currently, there’s a slight oversupply of battery in the market, and so we battery makers need to slow down on procuring battery raw materials” - a second raw material procurer from a battery plant

What to read next
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed