》View SMM Nickel Quotations, Data, and Market Analysis
On April 23, the SMM battery-grade nickel sulphate index price was 27,775 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,760-28,340 yuan/mt, and the average price remained stable compared to the previous day.
Cost side, LME nickel prices rebounded significantly recently, driven by cost support and the fading of negative sentiment from US policies, which strengthened the cost support range for nickel salt production. Under the effect of cost transmission, the production cost pressure on nickel salt smelters continued to rise. Supply side, the availability of nickel salt for sale from smelters tightened this month, with overall industry inventory levels remaining low. Influenced by the MHP coefficient and its persistently high prices, the sentiment to stand firm on quotes among nickel salt smelters persisted. Demand side, most precursor plants have completed raw material stocking for April, and with the arrival of the May procurement cycle, market inquiries became active this week. Downstream enterprises showed a slight increase in their acceptance of nickel salt prices. Looking ahead, based on tight raw material supply, solid cost support, and sustained downstream demand, nickel salt prices are expected to show a mild upward trend in the short term.
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