[SMM Daily Review of Nickel Sulphate] June 18: Nickel salt prices continued to decline

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On June 18, the SMM index price for battery-grade nickel sulphate was 27,402 yuan/mt. The quotation range for battery-grade nickel sulphate was 27,400-27,830 yuan/mt, with the average price falling slightly compared to the previous day.

Cost side, nickel prices returned to fundamentals and declined slightly this week, leading to a weakening in the production cost of nickel salts. 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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