SHANGHAI, Jul 25 (SMM) –On the cost side, nickel salt production profits have shrunk, and the cost for various raw materials producing nickel sulphate is not optimistic. Looking at the raw materials, recent nickel price fluctuations have driven a slight increase in prices for MHP and high-grade nickel matte. Combined with major mills hoarding stocks, this has led to a tight market supply and a slight increase in raw material prices. Additionally, the lower price that downstream buyers are willing to pay is causing a decline in the profits of the manufacturers. According to SMM analysis, nickel sulphate profit margin using MHP dropped by 0.8% from last Friday, and the profit margin for using high-grade nickel matte declined by 0.5% from previous Friday. Nickel prices are expected to have strong support and may continue to rise this week, potentially leading to higher nickel sulphate production costs. Therefore, the profit margin for nickel sulphate may further narrow.
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