[SMM Analysis] Weak demand and sluggish transactions led to a decline in nickel salt prices this week

Weak demand and sluggish transactions lead to a decline in nickel salt prices this week

As of Thursday this week, the SMM battery-grade nickel sulphate index price was 26,954 yuan/mt, with the quotation range for battery-grade nickel sulphate being 26,980-27,460 yuan/mt, and the average price declining WoW.

Demand side, some producers have restocking needs recently, and purchasing sentiment has slightly recovered compared to last week. However, due to the fact that the purchasing period has not yet arrived, the overall enthusiasm for buying in the market is low. As downstream demand has not significantly improved, the price acceptance of precursor plants for nickel salts has not significantly increased. Supply side, the overall inventory level of nickel salt smelters is low, with limited available finished products. Coupled with the cost pressure from high-priced raw materials, some producers have a reluctance to budge on prices, but weak demand has resulted in fewer transactions. Looking ahead, based on the tight circulation volume in the nickel sulphate market and the restocking needs of precursor plants, it is expected that nickel salt prices may rebound slightly.