[SMM Daily Review of Nickel Sulphate] July 2: Nickel salt prices remained stable

》Check SMM nickel quotes, data, and market analysis

On July 2, the SMM battery-grade nickel sulphate index price stood at 27,192 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,200-27,600 yuan/mt. The average price maintained stability compared to the previous day.

Cost side, LME nickel prices rebounded due to broad-based non-ferrous metal price gains and oversold recovery. Overall, immediate production costs for nickel salts trended upward. Supply side, some nickel salt smelters halted operations for maintenance due to losses, while others maintained stable quotations. Demand side, precursor plants reduced pricing inquiries amid weaker demand. This week, market transaction activity and inquiry levels remained subdued.

Looking forward, anticipated weak downstream demand and nickel salt smelters’ reluctance to budge on prices suggest prices will remain stable.

》Check SMM nickel product spot quotes

》Subscribe to view SMM metal spot price history

[For more insights, subscribe to SMM Nickel Research Group's "China Nickel-Chrome-Stainless Steel Industry Chain Regular Report" and "China Nickel-Chrome-Stainless Steel Industry Chain Premium Report", accessingthe latest analyses on nickel ore, NPI (China+Indonesia), refined nickel, nickel sulphate, chrome ore,ferrochrome, and stainless steel (China+Indonesia) markets!]

》Click to subscribe to SMM China Nickel Industry Chain Annual Report for comprehensive industry chain data, survey insights, and SMM's expert analysis