[SMM Daily Review of Nickel Sulphate] July 3 Nickel salt prices remained stable

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On July 3, the SMM battery-grade nickel sulphate index price stood at 27,194 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,200-27,600 yuan/mt. The average price remained stable compared to the previous day.

On the cost side, LME nickel prices have rebounded due to broad-based non-ferrous metal price increases and oversold rebounds. Overall, nickel salt spot production costs have risen. From the supply side, some nickel salt smelters halted production for maintenance due to losses, while others maintained stable quotation ranges. On the demand side, inquiries from precursor manufacturers have become less frequent amid weakened demand. Market transaction and inquiry activity remained subdued throughout the week.

Looking ahead, prices are expected to remain stable considering weak downstream demand and nickel salt smelters' reluctance to budge on prices.

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