Nickel salt prices rose this week, with nickel salt circulation at a low level
As of Thursday, the SMM battery-grade nickel sulphate index price was 27,869 yuan/mt, and the quotation range for battery-grade nickel sulphate was 27,800-28,400 yuan/mt, with the average price up WoW.
Supply side, although LME nickel prices pulled back, reducing the extent of losses for nickel salt smelters, their in-plant inventory remained at a low level, and the market had a limited amount of circulating nickel salts, so there were no signs of concessions on pricing from the smelters. Demand side, as the cost losses for precursor manufacturers intensified, the purchasing pace slowed, leading to relatively quiet transactions this week. However, some precursor manufacturers still have the need for March stockpiling. Overall, considering the limited circulation of nickel salts in the market and the existence of some demand, it is expected that nickel sulphate prices may continue to rise next week.
