Nickel Sulphate Price Likely To Stop Going Up Further 

Nickel sulphate price increased slightly in the week ending October 12 and then stabilized. Production of refined nickel using nickel sulphate has been experiencing losses due to a decrease in price differentials, resulting in a continued decline in purchasing activity for nickel sulphate. On the precursor side, the pre-holiday stock replenishment has resulted in no apparent shortage for precursor production companies, and there is a strong wait-and-see attitude after the holiday. Nickel salt smelters are still facing tight raw material supply, with low availability of spot goods. Therefore, nickel salt producers have a lower willingness to sell, and prices remain firm. Inquiries and transactions in the market decreased. From a cost perspective, the arrival of raw materials from Huafei project or other sources may alleviate supply crunch, but it has not reversed the situation, and cost support remains. In view of purchase slowdown by refined nickel smelters, rigid demand-driven purchase from precursor plants, and cost support, nickel sulphate price is expected to stabilize in the week ending October 20 with upward pressure.