Nickel Sulphate Prices Gradually Stabilised [SMM Nickel Sulphate Daily Review]

On July 2, SMM battery-grade nickel sulphate index price was 27,977 yuan/mt, down 34 yuan/mt from the previous working day. The battery-grade nickel sulphate prices were 28,000-29,000 yuan/mt, with the average price flat compared to the previous working day. Demand side, starting from last week, downstream precursor producers entered the end-of-month purchasing period, with some producers restocking as needed. Supply side, as some nickel sulphate plants gradually suffered losses, they held prices more firm. In summary, nickel sulphate prices temporarily stabilised. However, overall demand contracted due to weak downstream scheduled production and some precursor producers postponing June orders to July for deliveries.