[SMM Nickel Sulphate Daily Review] August 7, Spot Order Market Transactions Sluggish, Nickel Sulphate Prices Stable

On August 7, the average price of SMM battery-grade nickel sulphate remained stable.

Cost side, news on Indonesian nickel ore quotas has been volatile, and nickel prices have rebounded somewhat, but the immediate production cost of nickel sulphate declined; supply side, the tight supply pattern of intermediate products has not changed, with MHP payables and auxiliary materials like sulphuric acid prices still at high levels, and some enterprises are willing to hold prices firm amid the nickel price rebound; demand side, recently, some downstream enterprises have primarily relied on long-term contract supply, with weak sentiment for spot order stockpiling and relatively low acceptance of nickel salt prices. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters was 1.9, the purchasing sentiment factor for downstream precursor plants was 2.5, and the sentiment factor for integrated enterprises was 2.5 (historical data can be accessed in the database).

Looking ahead, short-term spot order market activity is expected to remain weak, and nickel sulphate prices are under overall pressure.

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