SMM

Entering March, some precursor companies still have a demand for nickel sulphate, but the supply increase is not keeping up with the increase in downstream demand, leading to continuous shortage of nickel sulphate. Coupled with the overall tightness of raw materials in Q2, and the current pace of price increases for finished products not matching the raw material side, some salt manufacturers are still experiencing losses, and the pace of resumption for hydrometallurgical recycling plants remains slow. With tight supply and solid cost, nickel sulphate price is expected to rise further. However, due to the high prices being difficult to pass on to downstream precursors, the upward space may be limited. In March, nickel sulphate prices are expected to rise slightly and then stabilize.