【SMM Nickel Sulphate Daily Review】March 31, Tug-of-War Between Sellers and Buyers in the Nickel Salt Market

View SMM Nickel Quotations, Data, and Market Analysis

On March 31, the SMM battery-grade nickel sulphate index price was 28,030 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,970-28,550 yuan/mt, and the average price remained flat WoW.

Cost side, the MHP market circulation is tight, and some nickel sulphate smelters have not yet completed their MHP stockpiling for Q2. Due to the recent MHP production falling short of expectations, the supply-demand gap is expected to further widen, leading to a continued increase in the MHP price coefficient. Nevertheless, the production cost of refined nickel may limit its upward momentum. Supply side, some nickel salt smelters have stopped quoting due to critically low inventories. Additionally, some nickel salt smelters maintain a firm sentiment to stand firm on quotes based on the relatively tight circulation of nickel salts. Demand side, some precursor plants have a restocking demand due to low raw material inventory levels, and their acceptance of nickel sulphate prices has also increased. Currently, buyers and sellers are still in a game stage regarding prices, and nickel sulphate prices are expected to have room for further increases in the short term.

View SMM Nickel Product Spot Quotations

Order and View SMM Metal Spot Historical Price Trends

[For more content, subscribe to SMM Nickel Research Group products "China Nickel-Chromium-Stainless Steel Industry Chain Regular Report" and "China Nickel-Chromium-Stainless Steel Industry Chain High-End Report" to obtainthe latest data analysis and market insights on nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore,ferrochrome, and stainless steel (China + Indonesia)!]

Click to Subscribe to SMM China Nickel Industry Chain Annual Report, Master Comprehensive and In-depth Industry Chain Data, Survey Information, and SMM Professional Analysis