Nickel sulfate: On September 6, the SMM battery grade of nickel sulfate index price was 31,309 yuan/ton, an increase of 32 yuan/ton from the previous working day. The battery grade of nickel sulfate price was 31,300-31,700 yuan/ton, an increase of 50yuan/ton from the previous working day.
Nickel sulfate maintains an upward trend today, with the current coefficient around 97-98.
The market sentiment for nickel sulfate has continued to rise recently. The reasons for the upward trend are:
1. The supply of nickel sulfate in the current market is tighter than the previous time;
2. The price difference between nickel sulfate and electro-nickel has widened, and the profit situation of using nickel sulfate to produce electro-nickel is optimistic, coupled with the anti-corruption problem in Indonesia. The mining section quota issue in the belt has not been implemented for a long time. Electro-nickel production companies are worried about raw material supply problems and are more active in purchasing nickel sulfate;
3. The Precursor steel just needs to be stocked;
4. The shipping schedule issue has caused the current MHP supply to be tight, and the coefficient price goes upward. In summary, the current cost side and fundamentals are providing stronger support for nickel sulfate prices.
Written by Nickel Research, if you have any questions about the nickel market, please don't hesiatte to talk with me Fancyli@smm.cn