The SMM battery-grade nickel sulphate index reached 30,035 yuan/mt on November 30, marking a 602 yuan/mt decrease compared to November 23. Quotes of battery-grade nickel sulphate were 30,000-30,500 yuan/mt, down 500 yuan/mt from November 29. Nickel sulphate prices continued to show a downward trend last week, with market activity slightly improving but still relatively low. The spot goods supply remained relatively loose due to ongoing weak downstream demand.
As demand continues to weaken, the nickel sulphate market may struggle to rebound. It is expected to experience a slight decrease this week, followed by stabilization. The projected price range is between 27,800 and 28,300 yuan/mt.
