[SMM Nickel Sulphate Daily Review] Spot Order Market Sluggish on September 1, Nickel Sulphate Prices Stable

On September 1, SMM battery-grade nickel sulphate average prices remained stable.

Cost side, macro sentiment recovered somewhat, and nonferrous metals rebounded overall, but spot production costs for nickel sulphate remained at low levels recently; supply side, some producers held relatively high inventory levels and sought production cuts to destock, with supply edging slightly lower overall; demand side, some downstream enterprises still relied mainly on long-term contract supply, with weak sentiment for building spot order inventories and relatively low acceptance of nickel salt prices. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters was 2.0, the procurement sentiment factor for downstream precursor plants was 2.3, and the sentiment factor for integrated enterprises was 2.3 (historical data can be accessed via the database).

Looking ahead, spot market activity is expected to remain weak in the short term, with nickel sulphate prices under pressure overall.

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