In May, the national nickel sulphate production was 32,700 mt in metal content and 162,100 mt in physical content (-5.02% MoM, -0.06% YoY). Due to tight raw material supply, nickel sulphate production in May was lower than expected. In addition, with high nickel prices, nickel sulphate plants suffered losses, leading to a reduction in production.
In June, constrained by the persisting tight raw material supply in Q2 and significantly weakened downstream demand, nickel sulphate plants may see inventory accumulation. The national nickel sulphate production in June is estimated to reach 30,800 mt in metal content and 192,900 mt in physical content (-5.82% MoM, -12.17% YoY).
