[SMM Daily Review of Nickel Sulphate] July 14: Nickel salt prices remained stable

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On July 14, the SMM battery-grade nickel sulphate index price stood at 27,229 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,200-27,640 yuan/mt. The average price remained unchanged from last Friday.

Cost side, nickel prices are under pressure, leading to a slight weakening in the immediate costs of nickel salts. Supply side, some producers recently showed reluctance to budge on prices, but weak demand resulted in fewer transactions. Overall, nickel salt smelters maintain low inventory and production schedules. Demand side, although some producers have restocked recently, market purchasing enthusiasm remains low as procurement periods have not yet arrived.

Looking ahead, despite persistent price support efforts by nickel salt smelters, nickel salt prices are expected to remain low in the short term due to declining production costs and sluggish downstream demand.

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