Commodities 2023: Tepid demand, supply glut pose challenges to nickel sulfate market

As the supply of Class II nickel — containing less than 99.8% nickel — continues to grow at a rapid pace, particularly in the battery sector where intermediates like mixed hydroxide precipitate, or MHP and nickel matte are gaining dominance, consumers are increasingly resistant toward paying higher prices, especially with a slowdown in the Chinese EV sector on the cards….