[SMM Daily Review of Nickel Sulphate] May 22, nickel salt prices remained stable

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On May 22, the SMM index price for battery-grade nickel sulphate was 27,791 yuan/mt, with a quotation range of 27,760-28,270 yuan/mt for battery-grade nickel sulphate. The average price remained stable compared to the previous day.

Cost side, LME nickel has returned to fundamental factors and is in the doldrums, 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, and their purchase willingness has increased. 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 next week.

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