[SMM Daily Review of Nickel Sulphate] May 19: Demand for nickel salts weakens

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On May 19, the SMM index price for battery-grade nickel sulphate was 27,757 yuan/mt, with a quotation range of 27,760-28,230 yuan/mt for battery-grade nickel sulphate, and the average price remained stable compared to the previous day.

Cost side, in April, the production of MHP in Indonesia was significantly affected 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 has declined, weakening the procurement demand for nickel salts. Supply side, this week, some nickel salt smelters lowered their quotation coefficients due to weak demand for precursors. Looking ahead, it is expected that nickel salt prices will remain stable this week, given the weak supply and demand in the market and the cost support for nickel salts.

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