[3.11 Morning Meeting Summary] On March 10, the SMM battery-grade nickel sulphate index price was 27,142 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,100-27,800 yuan/mt, and the average price increased WoW.
Cost side, recent LME nickel prices rose to $16,435. Meanwhile, the decision by Congo to suspend cobalt exports led to a significant increase in cobalt prices, further driving up the cobalt coefficient in MHP. In addition, MHP sellers showed strong sentiment to stand firm on quotes, with the MHP coefficient continuing to rise, and some traders have stopped quoting.
