[SMM Analysis] Spot supply of nickel salts remains tight, and nickel salt prices rose this week

Spot supply of nickel salts remains tight, with nickel salt prices rising this week

As of Thursday this week, the SMM battery-grade nickel sulphate index price was 27,202 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,190-27,690 yuan/mt, and the average price rising WoW.

Demand side, some producers have restocking demand recently, with active inquiries in recent days, and their acceptance of nickel salt prices has increased, leading to an upward trend in transaction 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, resulting in an overall increase in quotations. Looking ahead, precursor producers still have a certain demand for raw material stocking. Given the current tight supply of finished nickel sulphate products, it is expected that nickel salt prices will rise.