[SMM Nickel Sulphate Daily Review] August 13 Spot Order Market Trading Was Sluggish, Nickel Sulphate Prices Declined

On August 13, the SMM average price of battery-grade nickel sulphate declined.

Cost side, news on Indonesian nickel ore quotas remained volatile, nickel prices consolidated on a weak note overall, and spot production costs for nickel sulphate moved lower; supply side, as costs remained high, some producers were willing to hold prices firm, but some other producers had relatively high inventory levels and sought to sell and destock; demand side, recently some downstream enterprises mainly relied on term contract supply, sentiment for building inventory through spot orders was weak, and their acceptance of nickel salt prices was relatively low. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters was 1.9, the purchasing sentiment factor for downstream precursor plants was 2.3, and the sentiment factor for integrated enterprises was 2.3 (historical data can be accessed in the database).

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

[For more content, please subscribe to the SMM Nickel Research Group products "China Nickel, Chrome and Stainless Steel Industry Chain Regular Report" and "China Nickel, Chrome and Stainless Steel Industry Chain High-End Report" to obtain the latest data analysis and market analysis for nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore, ferrochrome, and stainless steel (China + Indonesia)!]