[SMM Daily Review of Nickel Sulphate] August 1: Nickel salt prices remain unchanged from yesterday

On August 1, the SMM battery-grade nickel sulphate index price stood at 27,132 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, uncertainties over US tariffs and US Fed interest rate cuts persisted, with LME nickel prices edging lower, leading to a recent pullback in nickel salt spot costs. Supply side, nickel salt smelters maintained low spot inventory levels, with limited finished product availability, compounded by raw material cost pressures, prompting smelters to refuse to budge on prices. Demand side, some precursor plants exhibited restocking needs recently, with improved inquiry sentiment and slightly higher price acceptance.

Looking ahead, as precursor plants enter a 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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