[SMM Daily Review of Nickel Sulphate] June 16 Nickel salt prices remained stable

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On June 16, the SMM battery-grade nickel sulphate index price was 27,577 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 declined slightly this week. Demand side, despite signs of recovery in nickel salt demand MoM in June, overall demand remained in a sluggish phase. Affected by some raw material inventory and weak order demand, the inquiry and transaction activity of precursor enterprises for nickel salts were low during the traditional procurement period this week. Supply side, the order signing situation for nickel salt producers in June was poor this week, and some large nickel salt enterprises planned to carry out shutdown maintenance in June. Given weak demand coupled with declining 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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