On December 20, nickel salt prices remained stable

On December 20, the SMM battery-grade nickel sulphate index price was 26,358 yuan/mt, and battery-grade nickel sulphate prices were quoted at 25,990-26,910 yuan/mt, with the average price unchanged from the previous day.

Cost side, LME nickel prices continued to pull back to $15,205/mt, weakening cost support further. Demand side, there were small inquiries and transactions in the market, with precursor plants showing gradually higher acceptance of salt prices compared to last week. Supply side, nickel salt smelters maintained their sentiment to stand firm on quotes. Under the dual impact of cost pressure and inventory levels, nickel salt smelters are expected to increase their discount coefficient to stand firm on quotes, and nickel salt prices may rise slightly.