Nickel Sulphate Prices to Stay at Highs

SHANGHAI, Aug 22 (SMM) - Inquiries in the nickel sulphate market increased, but the trading volume was limited. The mainstream quotations were above 37,500 yuan/mt, with a few quotations heard at 40,000 yuan/mt. Most buyers were only willing to buy at around 37,000 yuan/mt, while a small number of buyers who were short of inventory accepted the prices of 39,000 yuan/mt. Large downstream enterprises had sufficient inventories and refused to buy at above 36,500 yuan/mt. Nickel sulphate prices may still run at a high level this week on the back of tight supply in the spot market, but may have little upward room due to the cost pressure from integrated producers.