[SMM Analysis] Sluggish transaction market, nickel salt prices decline

Sluggish transaction market, nickel salt prices decline

As of Thursday this week, the SMM index price for battery-grade nickel sulphate was 27,610 yuan/mt, with a quotation range of 27,580 to 28,050 yuan/mt for battery-grade nickel sulphate, and the average price declined WoW.

Demand side, some precursor plants, due to ample raw material inventory and weak overall order demand, showed relatively low interest in inquiring about and purchasing nickel salts, and their acceptance of nickel salt prices also decreased. Supply side, in view of the weakening demand, some nickel salt smelters lowered their quotations, and the seller's bargaining power shifted. Looking ahead, considering the continued mediocre downstream demand and the weakened bargaining power of some sellers, it is expected that nickel salt prices may further weaken in the short term.