MathIf you take the quoted Nickel sulphate price in Yaun and convert to USD and divide by .23 (Ni Sulphate is 23% pure Ni by mass) you get the USD price per metric ton of Nickel Sulphate. You can then figure out what the premium is to LME class 1. Keep in mind actual briquettes usu sell at a $500-$1000 premium to LME pricess.
Right now (link below) Ni Sulphate is 30,500 Yaun/mt and the conversion rate to USD is .138.
So you get $18,300/mt vs $17,400 LME class 1 or $900 premium. The estimated conversion cost by the way is $700 per mt (second link). So this is an easy way to see the spread at present....
Conclussion (given actual prices of class one at present are closer to $18,000) is that NiSulphate is presently underpriced OR Class 1 is overpriced. However if the latter were true most mines in the world would be underwater meaning prices are artificially/unsustainably low....
Nov 14 NiSulphate Price:
https://news.metal.com/newscontent/102472090/ Conversion cost:
https://www.fastmarkets.com/insights/mhp-emerges-as-preferred-route-to-sulfate-for-international-nickel-market/