[SMM Daily Review of Nickel Sulphate] August 8: Nickel salt prices remain unchanged from yesterday

On August 8, the SMM battery-grade nickel sulphate index price stood at 27,212 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,190-27,690 yuan/mt, flat from the previous day.

Cost side, recent market focus has been on US economic data and interest rate cut expectations, with LME nickel prices slightly declining, while immediate costs for nickel salts remained volatile. 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 exhibited restocking needs recently, showing active inquiries and slightly improved price acceptance.

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

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