》View SMM Nickel Quotations, Data, and Market Analysis
On January 21, the SMM battery-grade nickel sulphate index price was 26,549 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,340-27,000 yuan/mt, and the average price increased compared to the previous day.
Cost side, LME nickel prices have recently shown a strong upward trend, surpassing $16,000 today, with widening cost support. Currently, the production of nickel sulphate from high-grade nickel matte and intermediate products is experiencing negative profit margins. Demand side, most precursor plants have completed their nickel salt restocking for January, with only a small portion still requiring restocking. Spot order market activity remains weak. Supply side, finished product inventories at salt plants are critically low, leading to tight supply. Overall, under the conditions of tight supply and rising costs, there is still room for price increases.
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