[SMM Analysis] Nickel salt market sluggish, prices remain stable

Nickel salt market sluggish, prices stable

As of Thursday this week, the SMM index price for battery-grade nickel sulphate was 27,585 yuan/mt, with a quotation range of 27,580 to 28,050 yuan/mt for battery-grade nickel sulphate, and the average price remained stable WoW.

Demand side, this week is not a traditional procurement period, and market enthusiasm is low. Some precursor plants have shown increased inquiry enthusiasm due to new orders at month-end. However, overall market inquiries and transactions remain relatively sluggish. Supply side, due to the current weak market demand, some nickel salt smelters have ceased quoting prices. Currently, finished product inventories at nickel salt smelters are relatively sufficient, and some smelters have a high willingness to ship, but due to the still strong cost support, nickel salt prices remain relatively flat compared to last week. 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.