[SMM Analysis] Downstream inventory is relatively sufficient, and transactions in the nickel sulphate market are sluggish

Downstream inventory is relatively sufficient, and the nickel salt market is sluggish in terms of transactions.

As of Thursday this week, the SMM battery-grade nickel sulphate index price was 27,194 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,200-27,600 yuan/mt, and the average price remained stable WoW.

Demand side, downstream precursor manufacturers have relatively sufficient inventory of nickel salts, and the overall market inquiry and transaction sentiment have been weak this week. Due to weak demand, nickel salt smelters' acceptance of nickel salt prices has not improved. Supply side, due to high raw material costs and weak demand, some nickel salt smelters plan to cut production or suspend operations. The overall upstream shipping sentiment also remains weak. Looking ahead, given the continued sluggish downstream demand and weak upstream shipping sentiment, it is expected that nickel salt prices will remain stable in the short term.