Nickel Sulfate Market Weak

Published: Oct 19, 2023 14:33

Save

From the perspective of downstream precursors, there is currently no obvious raw material gap, and the price of nickel sulfate is still at a relatively high level, so there is a strong wait-and-see attitude. The current market activity is weak.

Nickel sulfate: On October 18, the SMM battery grade nickel sulfate index price was 32,234 yuan/ton, which was 1 yuan/ton lower than the previous working day. The battery grade nickel sulfate price was 32,100-33,000 yuan/ton, and the average price was 32,100-33,000 yuan/ton. day was flat. From the current supply side, as raw materials are still tight and prices are high, salt factories are reluctant to sell spot goods, and the mentality of raising prices still exists. From the perspective of downstream precursors, there is currently no obvious raw material gap, and the price of nickel sulfate is still at a relatively high level, so there is a strong wait-and-see attitude. The current market activity is weak.

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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Data: SHFE, DCE market movement (Mar 10)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 10 Mar , 2026

11 hours ago

15 hours ago

【SMM Flash News】Indonesia's Nickel Ore HPM Forecasted to Increase 1.32% in Mid March

SMM predicts the Indonesian domestic nickel ore benchmark price (HPM) will increase by 1.32% for the second half of March 2026. This gain follows an expected rise in the HMA to USD 17,329/dmt (down USD 225.56/dmt). Under the MC35% calculation, the forecasted HPM levels across key grades are: • Ni 1.2%: USD 17.57/wmt (↑ $0.23) • Ni 1.6%: USD 30.64/wmt (↑ $0.4) • Ni 1.7%: USD 34.47/wmt (↑ $0.45) • Ni 1.8%: USD 38.52/wmt (↑ $0.5) • Ni 2.0%: USD 47.31/wmt (↑ $0.62) The market is closely monitoring the pending RKAB approvals, though clarity for next month’s RKAB approval is still lacking. Given the upcoming Eid Al-Fitr break, a slowdown in the administrative process is highly likely. If these delays persist through the end of the month, there is a possibility for an upward in the ore price.

15 hours ago

[NPI Daily Review] The High-Grade NPI Market Came Under Brief Pressure; the Cost-Support Rationale Remained Unchanged

[SMM Daily Review: The High-Grade NPI Market Was Briefly Under Pressure, While the Cost-Support Logic Remained Unchanged] News on March 10: SMM’s upstream sentiment factor for high-grade NPI was 2.9, up 0.02 MoM, while the downstream sentiment factor for high-grade NPI was 1.4, up 0.03 MoM.

15 hours ago