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Nickel Sulfate Prices Tend to Rise

iconSep 22, 2023 10:35
Fundamentals and cost support are still strong, and nickel sulfate prices still have room to rise.

Nickel sulfate: On September 21, the SMM battery grade nickel sulfate index price was 31,949 yuan/ton, an increase of 54 yuan/ton from the previous working day, and the battery grade nickel sulfate price was 32,000-32,500 yuan/ton, which was the same as the previous working day. . Although the high-priced nickel sulfate at the precursor end is difficult to transmit to the downstream, with the low flux of nickel sulfate spot, the profit of using nickel sulfate in the electro-nickel end is still high, and the purchasing activity is still high, and the spot nickel sulfate is difficult to buy. Therefore, the strong price support mentality of salt factories has pushed up the price of nickel sulfate. On the cost side, the Indonesian government announced that it will no longer issue nickel ore quotas in 23 years, and cost support may continue to strengthen. Fundamentals and cost support are still strong, and nickel sulfate prices still have room to rise.

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

Nickel sulfate

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