[SMM Nickel Sulphate Daily Review] On August 26, the nickel salt price remained unchanged from the previous day

On August 26, the SMM battery-grade nickel sulphate index price was 27,468 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,490-27,790 yuan/mt, and the average price remained flat from the previous day.

Cost side, following Powell's dovish signals in his speech last Friday, LME nickel prices rebounded, leading to a recovery in the immediate production costs for nickel salt. Supply side, nickel salt smelters maintained low spot inventory levels, with few spot orders quoted recently. Coupled with cost pressure from raw materials, nickel salt smelters continued to refuse to budge on prices. Demand side, as downstream procurement entered a key period, some precursor plants had restocking needs recently, showing active inquiries and increased price acceptance. Today, the sales sentiment factor for upstream nickel salt smelters was 1.2, the procurement sentiment factor for downstream precursor plants was 3.1, and the sentiment factor for integrated enterprises was 2.0 (historical data can be queried in the database).

Looking ahead, with the arrival of month-end procurement for downstream players and a tight supply-demand pattern in the nickel sulphate market, nickel salt prices are expected to rebound.

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