[SMM Daily Review of Nickel Sulphate] May 30, nickel salt prices remained stable

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On May 30, the SMM battery-grade nickel sulphate index price stood at 27,705 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,700-28,130 yuan/mt, and the average price remained stable from the previous day.

Cost side, LME nickel prices saw a slight correction today, strengthening immediate cost support. Demand side, although nickel salt demand showed signs of recovery MoM in June, overall demand remained sluggish. Affected by partial raw material inventory and weak order demand, precursor enterprises exhibited low inquiry and transaction activity for nickel salts during this week's traditional procurement period. Supply side, nickel salt producers reported poor order signings for June, with some large nickel salt companies planning to conduct maintenance shutdowns in June. Given weak demand coupled with declining costs, some nickel salt producers have shown signs of loosening quotations.

Looking ahead, considering persistently mediocre downstream demand and weakened bargaining power among some buyers, nickel sulphate prices are expected to further weaken in the short term.

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