[SMM Nickel Sulphate Daily Review] July 15, Market Transactions Sluggish, Nickel Salt Prices Slightly Lower.

Published: Jul 15, 2026 11:56

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On July 15, the SMM average price of battery-grade nickel sulphate edged down.

On July 15, the SMM battery-grade nickel sulphate average price edged lower.

Cost side, yesterday the US CPI came in weaker than market expectations, but Middle East uncertainty remained, nickel prices once retreated after a rapid rise, and the spot cost of nickel sulphate production held steady; supply side, the tight supply pattern of intermediate products remained unchanged, MHP payables and auxiliary material prices such as sulphuric acid remained high, some nickel salt smelters held expectations for production cuts, but some recycling enterprises released inventory; demand side, as nickel prices dropped sharply MoM and some downstream enterprises accumulated certain inventory, downstream stockpiling sentiment was weak, and acceptance of nickel salt prices was relatively low. Today, the Willingness to Sell Sentiment Factor of upstream nickel salt smelters was 1.8, the procurement sentiment factor of downstream precursor makers was 2.5, and the sentiment factor of integrated enterprises was 2.4 (historical data can be accessed through the database).

Looking ahead, the stockpiling period in July is expected to shift to the latter half of the month, and attention should be paid to the impact of nickel prices and intermediate products on cost support.

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