[SMM Daily Review of Nickel Sulphate] July 30: Nickel salt prices remain stable

On July 30, the SMM battery-grade nickel sulphate index price stood at 27,122 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,130-27,610 yuan/mt, flat from the previous day.

Cost side, market focus returned to US tariffs and interest rate cut expectations, with LME nickel prices fluctuating at lows. Recent nickel salt spot costs pulled back. Supply side, nickel salt smelters maintained low spot inventory levels with limited finished product availability, coupled with raw material cost pressures, leading smelters to refuse to budge on prices. Demand side, some precursor plants showed restocking needs recently, with improved inquiry sentiment and slightly higher price acceptance.

Looking ahead, as precursor plants enter the restocking period, the current tight supply in the nickel sulphate market is expected to drive a potential rebound in nickel salt prices.

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