This week, nickel sulphate prices declined due to cost decreases at the beginning of the month.
As of Thursday, the SMM battery-grade nickel sulphate index price was 27,757 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,750-28,350 yuan/mt. The average price fell WoW.
Cost side, nickel salt smelters actively inquired about spot MHP and Q3 long-term contracts this week. Due to tightening supply, the MHP coefficient has no downward room. Supply side, the cost support for nickel sulphate weakened due to the decline in LME nickel at the beginning of the month, and some nickel salt smelters lowered their quotation coefficients at the start of the week. Demand side, some downstream players have not completed their April stockpiling, and precursor plants actively inquired this week, with market activity relatively improving. Looking ahead, nickel sulphate prices are expected to rise slightly next week due to widening cost support and tightening supply.
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