》View SMM Nickel Quotations, Data, and Market Analysis
On February 28, the SMM battery-grade nickel sulphate index price was 26,678 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,510-27,170 yuan/mt. The average price increased compared to yesterday.
Cost side, LME nickel prices slightly rose to $15,740 today, leading to higher production costs for nickel sulphate. Meanwhile, the recent suspension of cobalt exports from Congo triggered a significant increase in cobalt prices, causing the coefficient of cobalt in MHP to trend upward. Sellers of MHP showed stronger sentiment to stand firm on quotes, further driving up the cost of nickel sulphate. Demand side, this week is the traditional peak procurement period for nickel sulphate, and precursor plants have not yet completed their inventory replenishment of nickel salts for March, thus maintaining procurement demand. Supply side, due to the rising raw material procurement prices, nickel salt producers exhibited stronger sentiment to stand firm on quotes, with most nickel salt smelters raising their quotations. Comprehensive analysis indicates that considering the persistent demand in the market and the cost-driven sentiment to stand firm on quotes among nickel salt smelters, nickel salt prices are expected to have further room for increase in the short term.
》View SMM Nickel Products Spot Quotations
》Subscribe to View SMM Historical Spot Price Trends for Metals
【For more content, please subscribe to SMM Nickel Research Group products, including the "China Nickel-Chrome-Stainless Steel Industry Chain Regular Report" and the "China Nickel-Chrome-Stainless Steel Industry Chain High-End Report," to access the latest data analysis and market insights on nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore, ferrochrome, and stainless steel (China + Indonesia)!】
