【SMM Nickel Sulphate Daily Review】April 24, Nickel Sulphate Prices Slightly Increased

View SMM Nickel Quotations, Data, and Market Analysis

On April 23, the SMM battery-grade nickel sulphate index price was 27,808 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,820-28,340 yuan/mt, and the average price rose slightly compared to the previous day.

Cost side, LME nickel prices rebounded significantly recently, driven by cost support and the fading of negative sentiment from US policies, which strengthened the cost support range for nickel salt production. Under the effect of cost transmission, the production cost pressure on nickel salt smelters continued to climb. Supply side, influenced by the persistently high MHP coefficient and its prices, the sentiment to stand firm on quotes among nickel salt smelters remained. Recently, some nickel salt smelters raised their quotations, and transaction prices also increased. Demand side, most precursor plants have completed raw material stocking for April, and with the arrival of the May procurement cycle, market inquiries became active this week. Downstream enterprises' acceptance of nickel salt prices slightly improved. Looking ahead, based on tight raw material supply, solid cost support, and sustained downstream demand, nickel salt prices are expected to show a mild upward trend in the short term.

View SMM Nickel Product Spot Quotations

Order to 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