[SMM Nickel Sulphate Daily Review] August 26 Spot order market trading was sluggish, nickel sulphate prices slightly declined.

Published: Aug 26, 2026 12:00

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On August 26, the average price of SMM battery-grade nickel sulphate slightly decreased.

On August 26, SMM's average battery-grade nickel sulphate price edged down slightly.

Cost side, driven by stainless steel sentiment, nickel prices were relatively strong today, and the immediate production cost of nickel sulphate rose slightly; Supply side, as costs remained at elevated levels, some producers were willing to hold prices firm, while others with high inventory levels sought to ship and destock; Demand side, entering the month-end procurement period, some enterprises started to inquire, but some downstream enterprises still prioritized long-term contract supply, and the sentiment for building spot order inventories was weak, with relatively low acceptance of nickel salt prices. Today, the upstream nickel salt smelter's Willingness to Sell Sentiment Factor was 2.0, the downstream precursor plants' Willingness to Purchase Sentiment Factor was 2.3, and the integrated enterprises' sentiment factor was 2.3 (historical data available on the database).

Looking ahead, spot order market activity will remain weak in the short term, and nickel sulphate prices will be under pressure overall.

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