[SMM Daily Review of Nickel Sulphate] July 4: Nickel salt prices rose slightly

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On July 4, the SMM battery-grade nickel sulphate index price stood at 27,202 yuan/mt, with battery-grade nickel sulphate quotation ranging between 27,200-27,620 yuan/mt. The average price rose slightly compared to the previous day.

Cost side, LME nickel prices rebounded due to Indonesia's nickel ore policy adjustments. Overall, immediate production costs for nickel salts increased. Supply side, some nickel salt smelters halted operations for maintenance amid losses, while others raised quotations amid rising costs. Demand side, precursor manufacturers reduced pricing inquiries due to weaker demand, keeping market transactions and inquiry activity at low levels this week.

Looking ahead, prices are expected to stabilize amid anticipated weak downstream demand and nickel salt smelters' reluctance to budge on prices.

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