[Tight Supply Stage Raw Material Costs Drive Up Nickel Sulfate Prices Strongly [SMM Nickel Sulfate Daily Review]

March 6th, SMM's battery-grade nickel sulfate index price was 29,029 yuan/ton, up 191 yuan/ton from the previous working day, and the price of battery-grade nickel sulfate was 28,800-29,400 yuan/ton, with an average price increase of 200 yuan/ton from the previous working day.

On March 6th, the SMM battery-grade nickel sulfate index price was 29,029 yuan/ton, up 191 yuan/ton from the previous working day, and the price of battery-grade nickel sulfate was 28,800-29,400 yuan/ton, with an average price increase of 200 yuan/ton from the previous working day. After the Spring Festival, salt plants using recycled materials as production raw materials were slow to resume production due to high profits from waste material prices. Inventory levels in spot salt plants remain low. The tight supply of nickel sulfate continues, with downstream replenishment demand still present. On the cost side, the price of MHP has risen to the level of LME nickel 81 coefficient, causing some salt plants to incur losses due to the increase in raw material costs. During the tight supply stage of nickel sulfate, the upward movement of costs strongly drives up nickel sulfate prices. Therefore, nickel sulfate prices are expected to remain strong in the near future.