Lower Profits Gained By Nickel Sulphate Companies Put Pressure on Nickel Ore Mines

SHANGHAI, Apr 24 (SMM) - Lower profit margins for nickel sulphate companies caused by poor demand cast a certain impact on the raw material producers. Orders received by nickel ore mines decreased as the nickel sulphate enterprises cut production. Recently, the processing fees of raw materials less nickel sulphate prices have risen from 29,000-32,000 yuan/mt in metal content to 33,000-35,000 yuan/mt. And with the continuous drop in the prices of nickel sulphate, the prices of raw materials also fell constantly. To sum up, the nickel ore mines suffered impact from the thin profits gained by downstream companies. SMM believes that nickel sulphate prices will be stable in the near future.