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Upward Trend of Nickel Sulfate Prices

iconSep 26, 2023 10:34
At a time when there is still expectation of production reduction and supply is tight, but demand is improving compared to before, there is still a possibility of an upward trend in nickel sulfate prices.

Nickel sulfate: On September 25th, the price of SMM battery grade nickel sulfate index was 32155/ton, an increase of 82 yuan/ton compared to the previous working day. The price of battery grade nickel sulfate was 32100-32800 yuan/ton, with an average price increase of 100 yuan/ton compared to the previous working day. The quotation range for nickel sulfate in the current market has widened again. The downstream precursor end entered a rhythmic procurement this week, and with the arrival of the National Day holiday, the willingness to purchase nickel sulfate further strengthened before the holiday. The high cost and strong bullish sentiment in the market have led to a strengthening of price support sentiment among salt factories, resulting in a widening price difference between salt factories and upstream and downstream quotations. At a time when there is still expectation of production reduction and supply is tight, but demand is improving compared to before, there is still a possibility of an upward trend in nickel sulfate prices.

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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