[SMM Nickel Sulphate Daily Review] January 5: Nickel Prices Continue to Rise, Driving Nickel Sulphate Prices Up

On January 5, the SMM battery-grade nickel sulphate index price was 27,904 yuan/mt, and the quotation range for battery-grade nickel sulphate was 28,130-28,300 yuan/mt, with the average price rising further WoW.

Cost side, nickel prices continued to rise driven by market sentiment, pushing up the immediate production costs for nickel salts; Supply side, the rise in nickel prices drove up cost expectations, prompting some enterprises to significantly increase their quotations; Demand side, the year-end procurement period from last month was expected to shift to this week, with some producers starting to inquire, and acceptance of fixed prices slightly increased. Today, the willingness to sell sentiment factor for upstream nickel salt smelters was 2.0, the procurement sentiment factor for downstream precursor plants was 2.8, and the sentiment factor for integrated enterprises was 2.4 (historical data can be queried by logging into the database).

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

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