[Nickel Sulphate Daily Review] Nickel Salt Prices Continued to Rise on September 1

On September 1, the SMM battery-grade nickel sulphate index price was 27,627 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,700-27,900 yuan/mt. The average price rose WoW.

Cost side, the strike in Jakarta, Indonesia, raised concerns about nickel ore supply, pushing up LME nickel prices and increasing the immediate production costs for nickel salt. Supply side, nickel salt smelters maintained low spot inventory levels, and coupled with raw material cost pressures, their quotations continued to rise. Demand side, it was a procurement period for downstream enterprises, with some precursor plants having recent purchase needs, showing active inquiries and increased price acceptance. Today, the willingness to sell sentiment factor for upstream nickel salt smelters was 1.4, the procurement sentiment factor for downstream precursor plants was 3.3, and the sentiment factor for integrated enterprises was 2.6 (historical data available in the database).

Looking ahead, some downstream enterprises still have raw material procurement needs, and nickel sulphate supply is tight, so nickel salt prices are expected to rise.

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