[SMM Nickel Sulphate Daily Review] On August 28, nickel salt prices increased

On August 28, the SMM battery-grade nickel sulphate index price was 27,527 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,600-27,800 yuan/mt, and the average price increased from the previous day.

Cost side, the US tariff policy was implemented, trade friction intensified, with tariffs on Indian automobiles involving core nickel consumption areas such as stainless steel, and LME nickel prices declined, leading to a pull back in immediate production costs for nickel salt; supply side, nickel salt smelters maintained low spot inventory levels, coupled with raw material cost pressure, and continued to refuse to budge on prices; demand side, it was the downstream purchase period, with some precursor plants having recent purchase needs, active inquiries in recent days, and increased price acceptance. Today, the upstream nickel salt smelter shipment sentiment factor was 1.2, the downstream precursor plant purchase sentiment factor was 3.1, and the integrated enterprise sentiment factor was 2.5 (historical data can be queried by logging into the database).

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

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