This week, outside of traditional procurement periods, the nickel salt market saw low activity.
As of Wednesday this week, the SMM battery-grade nickel sulphate index price was 27,857 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,860 to 28,370 yuan/mt, and the average price slightly increased WoW. From the supply side, the supply of MHP and high-grade nickel matte tightened, causing their coefficients to continue fluctuating at highs. Nickel salt smelters, supported by strong cost factors, maintained a firm stance on nickel salt prices. On the demand side, as precursor plants had already procured relatively sufficient inventory by the end of April, procurement sentiment was low this week. However, precursor plants still have restocking needs this month, and the market circulation of nickel sulphate produced from low-cost recycled materials is limited. Therefore, precursor plants' acceptance of nickel salt prices has improved. Looking ahead, based on fundamental factors such as solid support from raw material costs and downstream demand dependence, nickel salt prices are expected to show a mild upward trend in the short term.
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