[SMM Daily Review of Nickel Sulphate] May 14, Weak supply and demand in the nickel salt market

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On May 14, 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, and 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 goods. The circulation of nickel salts in the market was also relatively limited. Looking ahead, with weak supply and demand in the current nickel salt market and a tug-of-war between sellers and buyers, nickel salt prices are expected to remain stable.

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