[SMM Nickel Sulphate Daily Review] June 17, market trading sentiment was mediocre, nickel salt prices held steady.

On June 17, SMM battery-grade nickel sulphate average prices remained stable.

Cost side, the US-Iran conflict gradually signalled de-escalation, leading to a rebound in base metals and a recovery in immediate production costs for nickel sulphate; supply side, the tight supply of intermediates persisted, with MHP payables and auxiliary material prices such as sulphuric acid staying high, prompting nickel salt smelters to maintain high offer prices; demand side, the major purchasing period had passed, downstream buying sentiment pulled back, and combined with relatively weak nickel prices, acceptance of nickel salt prices remained low. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters was 1.8, the procurement sentiment factor for downstream precursor plants was 2.5, and the sentiment factor for integrated enterprises was 2.4 (historical data can be queried by logging into the database).

Looking ahead, the tight raw material situation is expected to persist, and nickel sulphate prices are expected to hold up well in the short term, though the supportive impact of nickel prices on costs requires monitoring.

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