[SMM Nickel Sulphate Daily Review] August 27, Spot Order Market Transactions Sluggish, Nickel Sulphate Prices Fell

On August 27, the average SMM battery-grade nickel sulphate price declined.

Cost side, short-term stainless steel sentiment eased, nickel prices weakened today, and the spot production cost of nickel sulphate declined. Supply side, as costs remained high, some producers were willing to hold prices firm, but some others had high inventory levels and sought to sell and destock. Demand side, entering the month-end procurement period, some enterprises started to make inquiries, but some downstream enterprises still mainly relied on long-term contract supply, sentiment for building inventory with spot orders was weak, and acceptance of nickel salt prices was relatively low. Today, the Willingness to Sell Sentiment Factor for upstream nickel salt smelters was 2, the Purchasing Sentiment Factor for downstream precursor plants was 2.3, and the Sentiment Factor for integrated enterprises was 2.3 (historical data can be accessed by logging into the database).

Looking ahead, short-term spot order market activity is expected to remain weak, with nickel sulphate prices overall under pressure.

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