[SMM Daily Review of Nickel Sulphate] August 6: Nickel salt prices remain stable

On August 6, the SMM battery-grade nickel sulphate index price stood at 27,161 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,160-27,640 yuan/mt, flat from the previous day.

Cost side, recent US economic data drove the US dollar index lower, while LME nickel prices edged up slightly, pushing up the immediate costs for nickel salt smelters. 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 slightly higher price acceptance.

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

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