[SMM Daily Review of Nickel Sulphate] August 4: Nickel salt prices rose slightly

On August 5, the SMM battery-grade nickel sulphate index price stood at 27,159 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,160-27,640 yuan/mt, showing a slight increase from the previous day.

Cost side, although the recent US non-farm payrolls data drove the US dollar index lower and LME nickel prices rebounded, the immediate cost of nickel salt 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 recently exhibited restocking needs, with improved inquiry sentiment and slightly higher price acceptance.

Looking ahead, the current nickel sulphate market shows a tight supply-demand pattern, and nickel salt prices are expected to rebound.

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