[SMM Analysis] Nickel sulphate prices rose with arrival of downstream purchase perio

The procurement period for some precursor producers has arrived, and nickel sulphate prices have risen this week.

As of Thursday this week, the SMM battery-grade nickel sulphate index price was 27,127 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,130-27,610 yuan/mt, and the average price slightly increased WoW.

Demand side, some producers have restocking needs recently, and procurement sentiment has slightly recovered compared to last week. Currently, it is the month-end procurement period, and some precursor producers have shown increased acceptance of nickel salt prices. Supply side, the overall inventory levels of nickel salt smelters are low, with limited available finished products. Coupled with the cost pressure from high-priced raw materials, producers have a strong reluctance to budge on prices. Looking ahead, as it is the procurement period for precursor producers and the current supply of finished nickel sulphate is tight, nickel salt prices are expected to rise.