[SMM Nickel Sulphate Daily Review] June 1: Strong Cost Support, Nickel Salt Prices Rise

On June 1, the SMM battery-grade nickel sulphate average price rose.

Cost side, nickel prices recently showed a fluctuating trend influenced by expectations of US-Iran conflict, and the spot production cost of nickel sulphate remained stable. Supply side, nickel prices, MHP payables, and auxiliary material prices such as sulphuric acid stayed high, and nickel salt smelter offers stayed high. Demand side, some downstream enterprises recently stockpiled nickel sulphate for June, but due to relatively weak nickel prices, their acceptance of nickel salt prices was relatively low. Today, the upstream nickel salt smelter Willingness to Sell Sentiment Factor was 2, the downstream precursor plant procurement sentiment factor was 2.7, and the integrated enterprise sentiment factor was 2.4 (historical data available via database login).

Looking ahead, the tight raw material supply pattern is expected to continue, and nickel sulphate prices are expected to hold up well in the short term.

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