[SMM Analysis] Downstream demand picks up, nickel salt prices rise

Downstream Demand Picks Up, Nickel Salt Prices Rise 

As of Thursday this week, the SMM battery-grade nickel sulphate index price was 27,800 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,760 to 28,270 yuan/mt, and the average price slightly increased WoW.

In terms of demand-side performance, after industry destocking in May, the production schedules of some precursor producers became more optimistic in June, with a significant increase in inquiries for nickel sulphate and enhanced acceptance of nickel salt prices by enterprises. On the supply side, some nickel salt producers raised their product quotation coefficients due to increased demand and tight raw material inventories, while others maintained stable quotations.

Looking ahead, considering that next week will mark the traditional procurement period, combined with cost support factors, nickel salt prices are expected to have upward momentum in the short term.

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