[3.12 Morning Meeting Minutes] On March 11, the SMM battery-grade nickel sulphate index price was 27,227 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,180-27,880 yuan/mt, and the average price increased WoW.
Cost side, recent LME nickel prices have been rising continuously. Meanwhile, the decision by Congo to suspend cobalt exports has led to a significant increase in cobalt prices, further driving up the cobalt coefficient in MHP. In addition, MHP sellers have shown strong sentiment to stand firm on quotes, causing the MHP coefficient to continue rising, with some traders halting quotations. Nickel sulphate costs are expected to have further room for growth.
