【SMM Nickel Sulphate Daily Review】April 2, Tug-of-War Between Sellers and Buyers in the Nickel Salt Market

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On April 2, the SMM battery-grade nickel sulphate index price was 28,109 yuan/mt, with the quotation range for battery-grade nickel sulphate at 28,040-28,600 yuan/mt, and the average price increased compared to the previous day.

Cost side, the MHP market saw tight circulation, and the MHP price coefficient rose this week, driving up the production costs of nickel salts. Supply side, some nickel salt smelters maintained a firm sentiment to stand firm on quotes due to rising raw material costs and low spot inventory. Demand side, some precursor plants had restocking needs recently due to low raw material inventory levels, and their acceptance of nickel sulphate prices also improved. Currently, buyers and sellers are still in a game stage regarding prices, and it is expected that nickel sulphate prices will have room to rise in the short term.

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