[SMM Nickel Sulphate Daily Review] January 13 Nickel Salt Prices Remain Unchanged

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On January 13, the SMM battery-grade nickel sulphate index price was 26,423 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,050-26,950 yuan/mt, and the average price remained flat WoW.

Cost side, LME nickel prices slightly rebounded today to $15,670/mt (Ni contained), strengthening spot cost support. Currently, the spot profit for producing nickel sulphate using MHP is in a loss-making state, while the profit margin for producing nickel sulphate using high-grade nickel matte remains. Demand side, most precursor plants have basically completed their January nickel salt restocking, with a small portion still having restocking demand. Market inquiry activity was weak today. Supply side, nickel sulphate plants currently maintain low levels of finished product inventories, leading to tight supply. Overall, under the tight supply pattern, prices still have room for an upward trend.

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