[SMM Analysis] Nickel salt quotes rose slightly this week, while downstream demand was weak and transactions were sluggish

This week, nickel salt quotations rose slightly, with weak downstream demand and sluggish transactions.

As of Thursday this week, the SMM battery-grade nickel sulphate index price was 27,227 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,200-27,640 yuan/mt, and the average price slightly increased WoW.

Demand side, downstream precursor producers had sufficient nickel salt inventories, and some producers stockpiled this week, but overall market inquiry and transaction sentiment remained weak. Due to weak demand, precursor producers' acceptance of nickel salt prices did not significantly improve. Supply side, the overall upstream shipping sentiment also remained in the doldrums. Some nickel salt smelters planned production cuts or shutdowns due to weak order demand. Additionally, some nickel salt smelters had low finished product inventories, driving quotations slightly higher. Looking ahead, given the continued sluggish downstream demand and weak upstream shipping sentiment, nickel salt prices are expected to remain stable in the short term.