China's nickel sulfate price rose in the week ended Friday July 2, supported by a continuous shortage of mixed hydroxide precipitate (MHP) due to strong demand from the electric vehicle (EV) market, but sentiment has turned cautious amid the elevated price levels.
Fastmarkets' weekly price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, at 34,500-35,000 yuan ($5,329-5,406) per tonne on July 2, up by 500-1,000 yuan per tonne from 33,500-34,500 yuan per tonne on June 25.The price has been supported recently because of tightened supply of raw materials, while firm demand from battery raw materials...