[SMM Analysis] Nickel salt market is sluggish, with prices remaining stable

Nickel salt market sluggish, prices stable 

As of Thursday this week, the SMM battery-grade nickel sulphate index price was 27,199 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,200-27,600 yuan/mt, and the average price remaining stable WoW.

Demand side, there has been no significant increase in demand from downstream industries, leading to a continued low level of enthusiasm for nickel salt inquiries from precursor producers this week. Meanwhile, the acceptability of nickel salt prices by precursor plants has also remained at a low level. Supply side, due to the high cost of raw materials, some nickel salt producers have implemented production shutdowns for maintenance. Coupled with weak downstream demand, nickel salt producers' quotations have been in the doldrums overall, with significant pressure on prices to rise. Looking ahead to the subsequent market, given the continued sluggishness of downstream demand, it is expected that nickel salt prices may weaken further in the short term.