[SMM Nickel Sulphate Daily Review] On August 22, the nickel salt price remained unchanged from the previous day

On August 22, the SMM battery-grade nickel sulphate index price was 27,433 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,450-27,790 yuan/mt, and the average price remained flat compared to the previous day.

Cost side, US Fed officials were cautious about interest rate cuts, and LME nickel prices further declined, leading to a pullback in the immediate cost of nickel salt. Supply side, nickel salt smelters had low spot inventory levels, with few spot order quotations recently, and coupled with raw material cost pressure, nickel salt smelters continued to refuse to budge on prices. Demand side, some precursor plants had restocking needs recently, with active inquiries and increased price acceptance. Today, the upstream nickel salt smelter sales sentiment factor was 1.4, the downstream precursor plant procurement sentiment factor was 3.0, and the integrated enterprise sentiment factor was 1.8 (historical data can be queried in the database).

Looking ahead, as the month-end procurement period for downstream approaches and the nickel sulphate market supply-demand pattern remains tight, nickel salt prices are expected to rise further.

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