[SMM Nickel Sulphate Daily Review] January 24: Nickel Salt Prices Remain Stable

Published: Jan 24, 2025 16:25 (GMT+8)

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On January 24, the SMM battery-grade nickel sulphate index price was 26,576 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,380-27,040 yuan/mt, and the average price remained unchanged from the previous day.

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Cost side, LME nickel prices pulled back to $15,555 today, easing cost support. Based on current spot costs, the production of nickel sulphate using high-grade nickel matte has ended losses, yielding slight profits. Demand side, some post-holiday orders have been signed by precursor plants, but due to Chinese New Year logistics suspension and other factors, pre-holiday order demand has been relatively subdued recently. Supply side, nickel salt circulation in the spot order market remains tight, with supply constraints. Overall, under the pattern of tight supply and losses at salt plants, post-holiday prices still have room for upward movement.

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