》View SMM Nickel Quotations, Data, and Market Analysis
On January 23, the SMM battery-grade nickel sulphate index price was 26,576 yuan/mt, with the quotation range for battery-grade nickel sulphate at 26,380-27,040 yuan/mt, and the average price increased compared to the previous day.
Cost side, LME nickel prices pulled back to $15,650 today, loosening cost support. Currently, profits for producing nickel sulphate from high-grade nickel matte and intermediate products have both turned into losses. Demand side, most precursor plants have basically completed their January nickel salt restocking, with a small portion still having restocking needs. Some post-holiday orders have already been signed. However, the overall spot order market remains sluggish. Supply side, nickel salt circulation in the spot order market is tight, with supply remaining constrained. Overall, under the pattern of tight supply and losses at salt plants, prices still have room for an upward trend.
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