[SMM Nickel Sulphate Daily Review] On March 24, Precursor Manufacturers' Price Acceptance Increased

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On March 24, the SMM battery-grade nickel sulphate index price was 27,926 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,900-28,420 yuan/mt. The average price rose slightly WoW.

Cost side, the transaction coefficient of MHP increased slightly recently. In terms of auxiliary materials for nickel sulphate, the price of sulphuric acid rose slightly, leading to a slight increase in the cost of MHP. Demand side, this week is a traditional procurement period, and precursor plants will stockpile this week, increasing their acceptance of nickel sulphate prices. Supply side, inventories at nickel salt smelters remained low, with tight circulation of nickel salts in the market, and sentiment to stand firm on quotes was prevalent among nickel salt smelters. Currently, buyers and sellers are still in a price negotiation, and it is expected that there is room for further price increases in the short term, but the increase will be limited.

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