SMM

Nickel sulphate prices inched lower in the week ending November 23. Four factors contributed to the price drop. 1. Falling nickel prices; 2. Subdued downstream purchasing appetite amid ample supply and slack demand; 3. Year-end sell-off pressure; 4. Eased raw material supply crunch with arrival of MHP from Huafei project. Given poor fundamentals and a lack of cost support, nickel sulphate prices may still have room to fall in the week ending December 1.