[SMM Daily Review of Nickel Sulphate] May 26 Nickel salt prices remained stable

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On May 26, the SMM battery-grade nickel sulphate index price was 27,811 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,760-28,270 yuan/mt, and the average price remained stable WoW.

Cost side, LME nickel returned to fundamental factors, showing a weak performance, leading to a slight decline in the production costs of nickel salt smelters. On the demand side, nickel salt demand is expected to strengthen MoM in June. Recently, precursor manufacturers 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 procurement period. Considering factors such as the expected market demand recovery in June and the cost support for nickel salts, it is anticipated that nickel salt prices will rise next week.

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