[SMM Nickel Sulphate Daily Review] On August 27, the price of nickel salts slightly increased

On August 27, the SMM battery-grade nickel sulphate index price was 27,478 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,510-27,790 yuan/mt, and the average price increased slightly from the previous day.

Cost side, Powell's dovish signal last Friday led to a continued rebound in LME nickel prices, raising the immediate production cost for nickel salt smelters. Supply side, nickel salt smelters maintained low spot inventory levels and faced raw material cost pressure, prompting them to refuse to budge on prices. Demand side, downstream restocking demand emerged from some precursor plants during the procurement period, with active inquiries and improved price acceptance. Today, the upstream nickel salt smelter sales sentiment factor was 1.2, the downstream precursor plant procurement sentiment factor was 3.1, and the integrated enterprise sentiment factor was 2.5 (historical data available in the database).

Looking ahead, the month-end procurement period is approaching, and the nickel sulphate market supply-demand pattern is tight, so nickel sulphate prices are expected to rebound.

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