[Nickel Sulphate Daily Review] Nickel Salt Prices Rose on September 2

On September 2, the SMM battery-grade nickel sulphate index price was 27,660 yuan/mt, with the quotation range for battery-grade nickel sulphate between 27,730-27,930 yuan/mt, and the average price increased compared to yesterday.

Cost side, market concerns triggered by the Indonesian strike gradually subsided, LME nickel prices pulled back, and immediate production costs for nickel salt declined; Supply side, nickel salt smelters maintained low inventory levels, spot order availability in the market was limited, coupled with raw material cost pressure, leading to continuously rising quotations from nickel salt smelters; Demand side, some precursor plants still had purchase demand in recent days, with 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 can be queried in the database).

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

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