[SMM Daily Review of Nickel Sulphate] June 3 Nickel salt prices remained stable

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On June 3, the SMM battery-grade nickel sulphate index price was 27,702 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,700-28,130 yuan/mt, and the average price remained stable WoW.

On the cost side, LME nickel prices saw a slight correction today, strengthening the support from immediate costs. Demand side, despite signs of a MoM improvement in nickel salt demand in June, overall demand remained in a sluggish phase. Affected by the availability of some raw material inventories and weak order demand, the inquiry and transaction activity of precursor enterprises for nickel salts were low during this week's traditional procurement period. Supply side, the order signing situation for nickel salt producers in June was poor this week, with some large nickel salt enterprises planning to conduct production shutdowns for maintenance in June. Given the weak demand coupled with declining costs, some nickel salt producers have shown signs of loosening their quotations.

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

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