On July 29, the SMM battery-grade nickel sulphate average price held steady.
Cost side, affected by Middle East peace talks, nickel prices drifted lower today, but the immediate production cost of nickel sulphate still rebounded recently; Supply side, the tight supply pattern of intermediate products remained unchanged, MHP payables and auxiliary material prices such as sulphuric acid stayed high, some nickel salt smelters had expectations for production cuts, and some enterprises showed willingness to hold prices firm amid a rebound in nickel prices; Demand side, as nickel prices fell sharply MoM and some downstream enterprises accumulated inventory, downstream stockpiling sentiment was weak and acceptance of nickel sulphate prices was relatively low. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters was 1.8, the procurement sentiment factor for downstream precursor plants was 2.6, and the sentiment factor for integrated enterprises was 2.5 (historical data can be accessed on the database).
Looking ahead, with the month-end procurement period approaching, the market is expected to gradually regain activity, and nickel sulphate prices may rebound.
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