[SMM Nickel Sulphate Daily Review] Aug 4 Spot Order Market Transactions Sluggish Nickel Sulphate Prices Stable

On August 4, the average price of SMM battery-grade nickel sulphate held steady.

Cost side, affected by market nickel ore news disturbances, nickel prices rebounded somewhat, and the immediate production costs for nickel sulphate recovered; supply side, the tight supply pattern of intermediate products remained unchanged, with MHP payables and auxiliary material prices such as sulphuric acid staying at high levels, and in the face of rebounding nickel prices, some enterprises showed willingness to hold prices firm; demand side, although the procurement period had arrived, some downstream enterprises had certain long-term contract supplies or inventory accumulation, so sentiment for building inventory with spot orders was weak, and the acceptance of nickel salt prices was relatively low. Today, the upstream nickel salt smelter Willingness to Sell Sentiment Factor was 1.8, the downstream precursor plant procurement sentiment factor was 2.6, and the integrated enterprise sentiment factor was 2.5 (historical data can be accessed by logging into the database).

Looking ahead, in the short term, spot order market activity is expected to be weak, with nickel sulphate prices remaining under pressure overall.

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