SMM

On December 5, SMM battery-grade nickel sulphate index price was 26,249 yuan/mt, and battery-grade nickel sulphate prices ranged from 25,920 to 26,780 yuan/mt, with the average price up 40 yuan/mt compared to the previous day. Cost side, LME nickel prices fluctuated downward to $16,015/mt. The cost support for nickel salt smelters weakened slightly. Demand side, precursor manufacturers' inquiry activity increased compared to the beginning of the week, but overall purchase sentiment remained weak. Supply side, nickel salt smelters' in-plant inventory levels were low, maintaining last week's sentiment to stand firm on quotes. The market remained in a tug-of-war between sellers and buyers. It is expected that this tug-of-war will continue in the short term, with nickel sulphate prices remaining stable.