[SMM Daily Review of Nickel Sulphate] August 7: Nickel salt prices rose

On August 7, the SMM battery-grade nickel sulphate index price stood at 27,202 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,190-27,690 yuan/mt, and the average price rose slightly compared to the previous day.

Cost side, recent US economic data and interest rate cut expectations drove the US dollar index lower, while LME nickel prices rebounded, pushing up the immediate cost of nickel salts. 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 still had restocking needs recently, showing active inquiries and slightly higher price acceptance.

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

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