[SMM Nickel Sulphate Daily Review] May 6: Strong Cost Support, Nickel Salt Prices Rose

Published: May 6, 2026 11:58

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On May 6, the SMM battery-grade nickel sulphate average price rose.

Cost side, post-holiday NPI production cut news continued to ferment, nickel prices surged significantly, and the spot production cost of nickel sulphate increased; supply side, nickel prices, MHP payables, and auxiliary material prices such as sulphuric acid continued to rise, and nickel salt smelter offer prices were notably lifted due to rising costs; demand side, some downstream enterprises still had certain stocking demand after the holiday, and their acceptance of nickel salt prices increased. Today, the upstream nickel salt smelter Willingness to Sell Sentiment Factor was 2, the downstream precursor plant procurement sentiment factor was 2.9, and the integrated enterprise sentiment factor was 2.6 (historical data can be accessed by logging into the database).

Looking ahead, nickel prices and intermediate product coefficients both trended higher, and nickel sulphate prices are expected to hold up well in the short term.

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