On September 3, SMM battery-grade nickel sulphate average prices held steady.
Cost side, ADP employment came in weaker than expected yesterday, nonferrous metals broadly rebounded, and immediate production costs for nickel sulphate moved higher; supply side, some producers held elevated 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, sentiment for building spot order inventory remained weak, and acceptance of nickel salt prices was relatively low. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters stood at 2.0, the procurement sentiment factor for downstream precursor plants at 2.2, and the sentiment factor for integrated enterprises at 2.3 (historical data can be accessed via the database).
Looking ahead, near-term spot market activity is expected to stay subdued, and nickel sulphate prices are likely to remain under pressure overall.
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