Nickel sulphate prices remained stable as some nickel sulphate plants held prices more firm amid losses [SMM Nickel Sulphate Daily Review]

On July 3, SMM battery-grade nickel sulphate index price was 27,973 yuan/mt, down 4 yuan/mt from the previous working day. The battery-grade nickel sulphate prices were 28,000-29,000 yuan/mt, with the average price flat compared to the previous working day. Demand side, starting from last week, downstream precursor producers entered the end-of-month purchasing period, with some producers restocking as needed. Supply side, some nickel sulphate plants held prices more firm amid losses. Therefore, nickel sulphate prices temporarily stabilised. However, overall demand weakened due to weak downstream scheduled production and some precursor producers postponing June orders to July for deliveries.