On March 17, the SMM average price of battery-grade nickel sulphate was flat.
Cost side, the US dollar index and oil prices pulled back slightly yesterday, while nickel prices rebounded, leading to a slight increase in the immediate production cost of nickel sulphate; Supply side, MHP payables have recently shown an upward trend, and nickel salt smelters raised their offers as raw material costs increased; Demand side, some producers have recently made purchases, but as downstream orders remained unclear and cost pass-through was sluggish, they still mainly took a wait-and-see stance toward high-priced nickel salts. Today, the upstream nickel salt smelter Willingness to Sell Sentiment Factor was 1.8, the downstream precursor plant purchasing sentiment factor was 2.7, and the integrated enterprise sentiment factor was 2.3 (historical data is available in the database).
Looking ahead, market buying and selling sentiment in March is expected to rebound, and attention should be paid to the support for nickel sulphate prices from nickel prices and intermediate product supply on the cost side.
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