Nickel Sulphate Prices Continued to Fall along with Costs in the Absence of Strong Demand Recovery

SHANGHAI, Jun 2 (SMM) - The prices of battery-grade nickel sulphate were between 42,800-44,500 yuan/mt as of this Thursday, down 850 yuan/mt from last Friday. The price of nickel fluctuated at a high level. This week, the mainstream quotations of battery-grade nickel sulphate were 43,000-45,000 yuan/mt. The transaction volume was limited. Due to the cost difference, the prices of different producers varied greatly. The cost advantages of integrated nickel sulphate producers who produce raw materials on their own are more obvious. With the increasing volume of nickel salts produced at lower costs, market prices went down. From the perspective of demand, the NEV market has shown a slight recovery, but the pace of recovery is still slow, and the overall downstream demand has not shown any obvious sign of recovery. Therefore, it is expected that the price of nickel salt will be difficult to rebound under the influence of low-priced cargoes before the demand shows a substantial improvement. Nickel salt prices are expected to move between 42,500-44,500 yuan/mt next week.