Costs supported nickel sulphate prices to rebound

This week, nickel sulphate prices rebounded, mainly driven by the cost side. Nickel salt supply was constrained by both the current and expected tightness of raw materials, and finished product inventories remained at low levels. The high raw material discount coefficient, together with high nickel prices, pushed up raw material costs, worsening the losses of nickel salt plants, thereby encouraging them to adopt firm pricing stance. Although demand weakened somewhat, temporary restocking demand due to previous difficulties in sourcing raw material and order increases drove downstream to accept high-priced nickel salts. However, due to high nickel prices, the profitability recovery of nickel salt plants remained limited. Looking ahead, with nickel prices consolidating at high levels and supply tightness, nickel salt plants will still hold offers firm.