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[SMM Nickel Sulphate Daily Review] On March 21, In-Plant Inventory at Nickel Salt Smelter Was Low

  • Mar 21, 2025, at 2:31 am
On March 21, the SMM battery-grade nickel sulphate index price was 27,888 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,820-28,420 yuan/mt. The average price rose slightly compared to yesterday.

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On March 21, the SMM battery-grade nickel sulphate index price was 27,888 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,820-28,420 yuan/mt. The average price rose slightly compared to yesterday.

Cost side, this week, some traders increased the pricing coefficient of cobalt in MHP by about five points. The MHP coefficient remains at a high level, and for the entire Q2, there is insufficient downward pressure on raw material coefficients. This week, the price of auxiliary material sulphuric acid for nickel sulphate increased significantly, raising the costs for nickel salt smelters. Demand side, influenced by fluctuations in the cobalt market, the purchasing pace of precursor manufacturers slowed down, but some still have purchasing needs. Supply side, with raw material prices fluctuating at high levels, the sentiment to stand firm on quotes among nickel salt smelters has spread. Inventory levels of nickel salt smelters remain low, and the market circulation of nickel salts is tightening. In summary, considering the existing demand in the market, as well as the low inventory levels and the sentiment to stand firm on quotes among nickel salt smelters, it is expected that nickel salt prices will have room for further increases in the short term.

 

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