Nickel Sulphate Prices Bottomed Out as Supply-Demand Balance Narrowed Further

SHANGHAI, Aug 11 (SMM) - Nickel sulphate supply deficit stood at 1,120 mt in Ni content in July. The supply deficit remained in place in July and the nickel salt stocks carried by downstream players dropped to a low. Market inquiries, meanwhile, increased significantly. The market supply tightness intensified as a result. In August, the high-grade nickel matte capacity will be further released, and some scrap-based and cobalt sulphate production lines will be converted to produce MHP-based nickel salts. Nickel sulphate supply may increase beyond expectations in August. And the supply tightness will also ease to some extent. However, judging from the current situation, nickel salt prices are expected to touch new highs amid the present supply tightness.