[SMM Daily Review of Nickel Sulphate] June 17 Nickel salt prices fell

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On June 17, the SMM index price for battery-grade nickel sulphate was 27,503 yuan/mt. The quotation range for battery-grade nickel sulphate was 27,500-27,930 yuan/mt, with the average price slightly lower than yesterday.

On the cost side, nickel prices returned to fundamentals this week, showing a slight decline, and the production cost of nickel salts weakened somewhat. Demand side, some precursor plants began inquiring about next month's orders this week, but overall demand remained sluggish, with low acceptance of nickel salt prices. In terms of supply, some nickel salt smelters had high inventory levels and faced shipping pressure, leading to a loosening of nickel salt 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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