[SMM Nickel Sulphate Daily Review] June 8 Market transactions sluggish, nickel salt prices stable

On June 8, SMM battery-grade nickel sulphate average price held steady.

Cost side, the renewed conflict between Israel and Iran and the setback in expectations for the reopening of the Strait of Hormuz pushed nickel prices to rebound somewhat, leading to a slight increase in the immediate cost of nickel sulphate production; supply side, nickel prices, MHP payables, and auxiliary material prices such as sulphuric acid remained high, and nickel salt smelter quotations stayed high; demand side, the procurement period had passed, downstream purchasing sentiment pulled back, compounded by relatively weak nickel prices, resulting in lower acceptance of nickel salt prices. Today, the upstream nickel salt smelter Willingness to Sell Sentiment Factor was 2.0, the downstream precursor plant purchasing sentiment factor was 2.6, and the integrated enterprise sentiment factor was 2.4 (historical data can be queried by logging into the database).

Looking ahead, the tight raw material situation is expected to persist, and nickel sulphate prices are expected to continue to hold up well in the short term.

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