On August 4, the SMM battery-grade nickel sulphate index price stood at 27,143 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,140-27,620 yuan/mt, and the average price edged up slightly WoW.
Cost side, although the US non-farm payrolls data drove the US dollar index lower and LME nickel prices rebounded modestly, the immediate costs for nickel salts recently continued to fluctuate at lows. Supply side, nickel salt smelters maintained low spot inventory levels with limited finished product availability, coupled with raw material cost pressures, leading to persistent refusal to budge on prices. Demand side, some precursor plants showed restocking needs recently, with improved inquiry sentiment and higher price acceptance.
Looking ahead, the nickel sulphate market currently exhibits a tight supply-demand pattern, and nickel salt prices are expected to rebound.
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