[SMM Daily Review of Nickel Sulphate] May 21, Nickel Salt Prices Rise Slightly

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On May 21, the SMM battery-grade nickel sulphate index price was 27,768 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,760-28,270 yuan/mt, and the average price slightly higher than yesterday's.

Cost side, LME nickel has returned to fundamental factors, showing a weak performance, leading to a slight decline in the production costs of nickel salt smelters. Demand side, the overall demand for nickel salt in June is expected to strengthen. Recently, precursor plants have shown significantly increased activity in inquiring about nickel salt prices, with purchase willingness increasing. Supply side, some nickel salt smelters have maintained stable quotations, while others have raised their quotation coefficients due to increased demand and limited raw material inventory. Looking ahead, next week is a traditional purchasing period. Considering factors such as the expected market demand recovery in June and the cost support for nickel salt, it is anticipated that nickel salt prices will rise somewhat next week.

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