On August 24, the average price of SMM battery-grade nickel sulphate edged up slightly.
Cost side, the strong performance of precious metals spilled over to the non-ferrous sector, and nickel prices, which were undervalued, surged then pulled back, causing a slight increase in the prompt production cost of nickel sulphate. Supply side, due to costs remaining high, some producers are inclined to hold prices firm, but some others have high inventory levels and seek to sell for destocking. Demand side, recently some downstream enterprises mainly rely on long-term contract supply, sentiment for building spot inventory is weak, and acceptance of nickel salt prices is relatively low. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters is 2.0, the procurement sentiment factor for downstream precursor plants is 2.3, and the sentiment factor for integrated enterprises is 2.3 (historical data available on the database).
Looking ahead, activity in the short-term spot order market is weak, and nickel sulphate prices remain under pressure overall.
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![[SMM Nickel Intermediate Product Daily Review] On August 24, MHP and high-grade nickel matte nickel prices rose, while cobalt prices declined.](https://imgqn.smm.cn/usercenter/vcoVV20251217171732.jpeg)