[SMM Nickel Sulphate Daily Review] Nickel Salt Prices Remained Stable on May 23

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On May 23, the SMM battery-grade nickel sulphate index price was 27,803 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,760-28,270 yuan/mt, and the average price remained stable compared to the previous day.

Cost side, LME nickel returned to fundamentals, showing a weak trend, leading to a slight decline in production costs for nickel salt smelters. Demand side, nickel salt demand is expected to strengthen overall in June, with precursor plants significantly increasing their inquiries and purchase willingness. Supply side, some nickel salt smelters maintained stable quotations, while others raised their quotation coefficients due to increased demand and limited raw material inventory. Looking ahead, next week is a traditional procurement period, and considering the recovery in market demand in June and cost support for nickel salt, nickel salt prices are expected to rise next week.

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