On July 18, the SMM battery-grade nickel sulphate index price stood at 26,963 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,980-27,480 yuan/mt, showing a slight increase from the previous day.
Cost side, LME nickel prices remained in the doldrums, and the immediate cost of nickel salt is expected to stay in the doldrums. Supply side, nickel salt smelters maintained low inventory levels overall, with limited finished product availability. Coupled with raw material cost pressure, some producers showed reluctance to budge on prices, but weak demand led to limited transactions. Demand side, some producers recently had restocking needs, with purchasing sentiment slightly recovering. However, as the procurement period has not yet arrived, overall market buying enthusiasm remained subdued.
Looking ahead, given tight nickel sulphate market availability and precursor plants' persistent restocking demand, nickel salt prices are expected to rebound slightly.
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