[SMM Nickel Sulphate Daily Review] March 30, Market Transactions Were Sluggish, Nickel Salt Prices Remained Stable

On March 30, the average SMM battery-grade nickel sulphate price held steady.

From the cost side, nickel prices continued to be pressured by the Middle East situation, and the immediate production cost of nickel sulphate edged down; from the supply side, MHP payables have risen recently, and nickel salt smelters raised their offers due to higher raw material costs; from the demand side, some producers have made inquiries recently, but as downstream orders were not particularly optimistic, costs were difficult to pass down, resulting in weak acceptance of high-priced nickel salts. Today, the upstream nickel salt smelters' Willingness to Sell Sentiment Factor was 1.8, the downstream precursor plants' purchasing sentiment factor was 2.6, and the integrated enterprises' sentiment factor was 2.3 (historical data is available in the database).

Looking ahead, as the monthly procurement period approaches, attention should be paid to downstream demand and the extent of downward cost pass-through.

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