[SMM Daily Review of Nickel Sulphate] June 12 Nickel salt prices remained stable

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On June 12, the SMM battery-grade nickel sulphate index price was 27,585 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 recovery 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 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 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 weakened bargaining power of some buyers, nickel salt prices are expected to weaken further in the short term.

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