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Nickel Sulfate Price Shows Upward Trend

iconSep 11, 2023 11:13
The price of nickel sulfate started to show an upward trend this week.

Nickel Sulfate: On September 7, the SMM battery-grade nickel sulfate index price was 31,427 yuan/ton, an increase of 218 yuan/ton from last Thursday. The battery-grade nickel sulfate price was 31,400-31,800 yuan/ton, an increase of 200 yuan/ton from last Thursday. Yuan / ton. The price of nickel sulfate started to show an upward trend this week. From the perspective of nickel salt production companies, after experiencing previous continuous losses and two weeks of rising transaction activity, nickel salt companies have basically sold out their spot stocks in August. The current market supply of nickel sulfate has further shrunk. Coupled with the improvement in market sentiment, currently The supply is relatively tight, manufacturers have strong price support mentality and their quotations continue to rise. The current market quotation is near the coefficient of 97-98. On the precursor side, although the increase in orders is not obvious, purchasing behavior for rigid needs still exists. On the electro-nickel side, electro-nickel manufacturers are worried about the shortage of raw material supply and are more active in purchasing nickel sulfate. This week, the price difference between electrolytic nickel and nickel sulfate widened again, and the profit situation was optimistic. The acceptance of high prices for nickel sulfate was higher than that of precursor companies, which further pushed up the price of nickel sulfate. From the cost side, the current tight supply of raw materials and expectations still exist, and the raw material coefficient remains high, which has played a strong supporting role in the price of nickel sulfate.

Written by SMM Nickel Research, if you have any questions about the nickel market, please don't hesiatte to talk with me Fancyli@smm.cn

Nickel sulfate

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