[SMM Daily Review of Nickel Sulphate] June 9, nickel salt prices remained stable

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On June 9, the SMM battery-grade nickel sulphate index price was 27,597 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,580-28,050 yuan/mt, and the average price remained stable WoW.

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 the availability of 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, and some large nickel salt enterprises planned to carry out 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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