[SMM Daily Review of Nickel Sulphate] May 28: Nickel salt prices remained stable

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On May 28, the SMM battery-grade nickel sulphate index price was 27,813 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. Demand side, nickel salt demand in June is expected to strengthen MoM. Recently, precursor manufacturers have significantly increased their inquiries about nickel salt, and their purchase willingness has strengthened. 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 salt, it is anticipated that nickel salt prices will rise next week.

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