[SMM Analysis] Weak demand for nickel salts, prices continue to decline

Weak demand for nickel salts leads to continuous price decline

As of Thursday this week, the SMM index price for battery-grade nickel sulphate was 27,363 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,370-27,800 yuan/mt, and the average price fell WoW.

Demand side, some precursor producers have started to inquire about orders this week, but given that market demand in July has not yet shown a significant recovery, the acceptance level of precursor producers for current prices remains low. Supply side, influenced by the high finished product inventories of some nickel salt producers and the overall weak downstream demand, both the quotation and actual transaction prices of nickel salt producers showed a downward trend this 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.