【SMM Daily Review of Nickel Sulphate】May 9 Nickel sulphate prices remained stable

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On May 9, the SMM battery-grade nickel sulphate index price was 27,858 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,860-28,370 yuan/mt, and the average price remained stable compared to the previous day.

Cost side, the production of MHP in Indonesia was significantly affected by floods in April, leading to a supply-demand gap and keeping its coefficient firm at highs. Overall, MHP cost support remains strong. Supply side, some nickel salt smelters have limited remaining sales volume for May, resulting in firm quotations. Some nickel salt smelters have expectations for production cuts due to incomplete raw material stocking. Additionally, current raw material prices are fluctuating at highs, driving their prices to remain firm. Demand side, this week is not a traditional procurement period, and some precursor plants have stocked up for more than half a month, leading to low procurement activity. Looking ahead, based on tight raw material supply, solid cost support, and downstream demand dependence, nickel salt prices are expected to show a mild upward trend in the short term.

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