[SMM Daily Review of Nickel Sulphate] June 19 Nickel salt prices maintained a downward trend

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On June 19, the SMM index price for battery-grade nickel sulphate was 27,363 yuan/mt, with a quotation range of 27,370-27,800 yuan/mt for battery-grade nickel sulphate, and the average price fell slightly compared to yesterday.

On the 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, resulting in 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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