》Check SMM Nickel Quotes, Data, and Market Analysis
Domestic cobalt sulphate prices continue to soar, with most precursor companies currently suspending quotations, leading to reduced market activity.
Recently, as raw material cobalt sulphate prices continue to rise, precursor companies are facing cost transmission pressure. If they lower quotations, precursor companies will face significant losses. If quotations rise sharply with costs, downstream material plants' limited acceptance of high prices may result in order losses.
Amid market standoff, transactions in the precursor market have stalled. During last week's procurement period, most precursor plants failed to complete stockpiling of nickel sulphate, with many companies still adopting a wait-and-see approach.
Although the current procurement pace has slowed, downstream demand still exists, and precursor plants' inventory levels of nickel sulphate remain low, indicating that restocking demand will gradually emerge.
It is expected that as inventories are consumed, restocking demand for nickel sulphate may gradually be released after prices stabilize, potentially ushering the market into a new round of standoff.
》Check SMM Nickel Product Spot Quotes
》Subscribe to View Historical Price Trends of SMM Metal Spot Products
【For more content, please subscribe to SMM Nickel Research Group products, including the "China Nickel-Chrome-Stainless Steel Industry Chain Regular Report" and the "China Nickel-Chrome-Stainless Steel Industry Chain High-End Report," to access the latest data analysis and market insights on nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore, ferrochrome, and stainless steel (China + Indonesia)!】
