[SMM Daily Review of Nickel Sulphate] June 20 Nickel salt prices continued to decline

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On June 20, the SMM battery-grade nickel sulphate index price was 27,193 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,200-27,600 yuan/mt, and the average price fell slightly compared to the previous day.

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, facing shipping pressure, and nickel salt quotations also loosened somewhat.

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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