[SMM Daily Review of Nickel Sulphate] May 13, Weak supply and demand in the nickel salt market

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On May 13, the SMM index price for battery-grade nickel sulphate was 27,864 yuan/mt, with a quotation range of 27,860-28,370 yuan/mt for battery-grade nickel sulphate. The average price remained stable WoW.

Cost side, in April, the production of MHP in Indonesia was significantly impacted by floods, leading to a supply-demand gap and keeping its coefficient at a high level. Overall, MHP costs provided strong support. Demand side, influenced by destocking at downstream material plants this month, the production schedule for some precursors declined, weakening the procurement demand for nickel salts. Supply side, some nickel salt smelters had low raw material inventory levels, with expectations for production cuts. Nickel salt smelters showed low enthusiasm for shipping. The market circulation of nickel salts was also relatively limited. Looking ahead, with both supply and demand in the nickel salt market currently weak, and a tug-of-war between sellers and buyers, nickel salt prices are expected to remain stable.

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