SHANGHAI, Jan 12 (SMM) - The domestic nickel sulphate market saw a surplus of 1,858 mt in nickel content in December amid faltering demand, resulting in steep declines in its prices. Transactions in the battery-grade nickel sulphate market were muted. The production cuts by nickel sulphate smelters slightly lagged behind the output reduction by precursor plants, leading to oversupply. Sell-off amid tightening liquidity at year-end made the prices to drop more rapidly.
In January, nickel sulphate prices are forecast to go down further as the supply glut will extend amid sagging demand.
