[SMM Nickel Sulphate Daily Review] February 25: Nickel Salt Prices Weaken

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On February 25, the SMM battery-grade nickel sulphate index price was 26,576 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,390-27,050 yuan/mt, and the average price slightly declined compared to yesterday.

Cost side, LME nickel prices weakened today, while cobalt prices rose, leading to a slight decrease in nickel sulphate costs. Demand side, this week marks the traditional procurement period for nickel sulphate, and precursor plants have not yet completed their nickel salt inventory for March, prompting inquiries to gradually begin this week. Supply side, the degree of losses in nickel salt costs has eased, and nickel salt producers have slightly loosened their quotations. Comprehensive analysis suggests that considering the weak market demand, nickel salt smelters have shown some price flexibility, indicating potential for short-term price declines.

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