[SMM Daily Review of Nickel Sulphate] July 25: Nickel salt prices rose

On July 25, the SMM battery-grade nickel sulphate index price stood at 27,032 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,030-27,530 yuan/mt, showing a slight increase from the previous day's average.

Cost side, recent macro tailwinds have driven LME nickel prices to hover at highs, pushing up the immediate costs for nickel salts. Supply side, nickel salt smelters maintain relatively low inventory levels with limited finished product availability, compounded by raw material cost pressures, leading some producers to show reluctance to budge on prices. Demand side, some precursor plants have restocking needs, with inquiry sentiment recovering slightly, but market transactions remain sluggish, and overall price acceptance has not improved significantly.

Looking ahead, as the precursor plants' restocking period approaches amid tight nickel sulphate market supply, nickel salt prices are expected to rebound.

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