【SMM Nickel Sulphate Daily Review】April 18, Nickel Sulphate Prices Remained Stable

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On April 18, the SMM battery-grade nickel sulphate index price was 27,760 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,750-28,350 yuan/mt. The average price remained stable compared to the previous day.

Cost side, due to the reduction in Indonesian high-grade nickel matte, market demand for MHP increased, driving the MHP coefficient to rise continuously. Recent floods in Indonesia led to a decrease in MHP supply, further pushing up the MHP quotation coefficient. Supply side, this week, due to reduced production costs, some non-primary material nickel salt smelters lowered their quotations. Some primary material nickel salt smelters also saw looser quotations. Demand side, some precursor plants have not yet stocked enough nickel salt inventory for April, and there is still procurement demand this week. However, their price acceptance has declined. Looking ahead, nickel sulphate prices are expected to decline due to weakened costs, but the decline is expected to be limited due to tight supply and demand for nickel salt.

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