Nickel Sulphate Market Diverged due to Differentiated Raw Material Costs

SHANGHAI, Jul 25 (SMM) - The nickel sulphate market diverged. Some market players were bullish on the back of tight supply, while others were bearish due to differentiated costs of different producers. The profitability of nickel sulphate producers who use different raw materials vary tremendously, resulting in a divergence in nickel sulphate prices. As some producers who use scrap as raw materials may dump their cargoes into the market at lower prices due to bearish sentiment, SMM expects that the prices of nickel sulphate will fall further to 35,000-36,000 yuan/mt this week.