[SMM Nickel Sulphate Daily Review] December 24 Nickel Prices Drive Cost Rebound, Nickel Salt Prices Slightly Recover

On December 24, the SMM battery-grade nickel sulphate index price was 27,113 yuan/mt. The quotation range for battery-grade nickel sulphate was 27,400-27,500 yuan/mt, with the average price slightly increasing compared to the previous day.

Cost side, stimulated by Indonesia's potential policy to reduce nickel ore supply, LME nickel prices continued to rebound, driving up the immediate production costs for nickel salt smelters. Supply side, the expectation of rising costs due to increasing nickel prices prompted some enterprises to raise their quotations. Demand side, as the downstream market entered the off-season and approached month-end, some producers began inquiries, but overall transaction sentiment remained relatively sluggish. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters was 1.8, the Purchasing Sentiment Factor for downstream precursor plants was 2.8, and the Sentiment Factor for integrated enterprises was 2.6 (historical data can be queried by logging into the database).

Looking ahead, as the month-end procurement period approaches, if nickel prices can sustain their upward trend, it may provide cost support for nickel salt prices.

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