[SMM Daily Review of Nickel Sulphate] June 6 Nickel salt prices remained stable

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On June 6, the SMM index price for battery-grade nickel sulphate was 27,605 yuan/mt, with a quotation range of 27,580-28,050 yuan/mt for battery-grade nickel sulphate. The average price remained stable compared to yesterday.

On the cost side, LME nickel prices fluctuated today. Demand side, despite signs of improvement in nickel salt demand MoM in June, overall demand remained sluggish. Affected by some raw material inventory and weak order demand, the inquiry and transaction activity of precursor companies for nickel salts were low during this week's traditional procurement period. Supply side, nickel salt producers had poor order signing performance for June this week, with some large nickel salt enterprises planning to conduct shutdown maintenance in June. Given weak demand coupled with falling 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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