SMM Data: Battery-Grade Nickel Sulphate Price Rises by 300 Yuan/mt on May 6

[SMM Copper Flash] SX-EW Copper Accounts for 70% in Zambia and DRC, Sulphur and Sulphuric Acid Procurement Relies on the Middle East According to SMM's on-site survey, SX-EW copper cathode accounted for approximately 70% of the combined copper production of Zambia and DRC. The sulphuric acid required for production was mainly self-supplied through captive sulphur-to-acid plants, supplemented by externally purchased by-product sulphuric acid from pyrometallurgy copper smelting enterprises. Sulphur procurement adopted a combination model of long-term contracts and spot cargo, primarily through quarterly tenders, with sources highly concentrated in the Middle East.

[SMM Daily Comment: Downstream Adopted a Wait-and-See Approach While Upstream Showed Strong Willingness to Hold Prices Firm, and the Market Held Up Well] On May 6, SMM high-grade NPI upstream sentiment factor was 3.58, up 0.04 MoM, and the high-grade NPI downstream sentiment factor was 2.6, flat MoM.

According to SMM data, on May 6, the FOB price of Indonesian MHP nickel rose by $96/mt Ni from the previous day, and the FOB price of Indonesian MHP cobalt rose by $288/mt Co. The FOB price of Indonesian high-grade nickel matte rose by $42/mt Ni from the previous day.