Nickel Sulfate Prices Expected Remain Stable

On September 14, the SMM battery grade nickel sulfate index price was 31,529 yuan/ton, an increase of 102 yuan/ton from last Thursday. The battery grade nickel sulfate price was 31,500-32,000 yuan/ton, a lower price than last week. Thursday increased by 100 yuan/ton, and the high price increased by 200 yuan/ton from last Thursday. Nickel sulfate prices rose slightly last week and then stabilized. From the perspective of nickel salt manufacturers, nickel salt manufacturers have basically sold out their September spot stocks this week. The current supply of nickel sulfate is tight, coupled with the expectation of production cuts in September, nickel salt manufacturers are reluctant to sell. It is difficult to buy nickel sulfate at current low prices. There is still a small amount of high-priced nickel sulfate available for circulation. On the precursor side, inquiries still exist, but due to the poor profitability of precursor companies and low acceptance of high-priced nickel sulfate, market transactions have weakened. On the electro-nickel end, due to the accumulated inventory of electro-nickel, the pace of purchasing nickel sulfate at the electro-nickel end has also slowed down, and transaction activity has weakened simultaneously with the precursor end. The price difference between nickel sulfate and pure nickel has shrunk this week, but there is still a profit. The electro-nickel end's purchasing behavior of nickel sulfate still provides fundamental support for nickel sulfate, but there is currently no strong support. Due to the weak overall demand on the precursor side, the demand for nickel sulfate still maintains a rigid procurement rhythm and is relatively stable. From the cost side, the current tight supply of raw materials and expectations still exist, and the cost of raw materials remains high, which has played a strong supporting role in the price of nickel sulfate. The current price of nickel sulfate is in a state of difficulty rising and falling, and prices are expected to remain stable next week.

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