[SMM Nickel Sulphate Daily Review] August 19 Spot Order Market Trading Was Sluggish, Nickel Sulphate Prices Declined

On August 19, the SMM battery-grade nickel sulphate average price edged down slightly.

Cost side, copper prices pulled back, the non-ferrous metals market weakened somewhat, dragging nickel prices further down, and spot costs for nickel sulphate production weakened; supply side, as costs remained high, some producers intended to hold prices firm, while others, with high inventory levels, sought to sell and destock; demand side, recently, some downstream enterprises mainly relied on long-term contract supply, and sentiment for building spot order inventory was weak, with relatively low acceptance of nickel salt prices. Today, the upstream nickel salt smelter Willingness to Sell Sentiment Factor was 2.0, the downstream precursor plant procurement sentiment factor was 2.3, and the integrated enterprise sentiment factor was 2.3 (historical data can be accessed via the database).

Looking ahead, the short-term spot order market is expected to be sluggish, and nickel sulphate prices will be under overall pressure.

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