On April 3, the SMM average price of battery-grade nickel sulphate declined slightly.

Weak Downstream Procurement Sentiment, Slight Decline in Nickel Salt Prices As of Thursday this week, the average SMM battery-grade nickel sulphate price edged down WoW. Demand side, as it was a procurement period, some producers had made inquiries recently, but because overall downstream orders fell short of expectations, acceptance of high-priced nickel salt was relatively weak; supply side, as MHP payables and auxiliary material prices had moved up recently, raw material costs for some producers increased, and quoted prices were raised accordingly. Looking ahead, cost support for nickel salt remained in place, but upside room for prices will depend on the downstream procurement pace. Inventory, this week the inventory index at upstream nickel salt smelters rose from 4.7 days to 5.3 days, the inventory index at downstream precursor plants increased from 6.5 days to 7.8 days, and the inventory index at integrated enterprises rose from 6.8 days to 7 days; in terms of buyer-seller strength, this week the Willingness to Sell Sentiment Factor at upstream nickel salt smelters held at 1.8, the procurement sentiment factor at downstream precursor plants held at 2.6, and the sentiment factor at integrated enterprises held at 2.4. (Historical data is available in the database.)

As of now, the FOB price of nickel in Indonesian MHP was $15,383/mt Ni, and the FOB price of cobalt in Indonesian MHP was $51,364/mt Co. MHP payables (against the SMM battery-grade nickel sulphate index) were 86.5-87.5, and the payable indicator for cobalt element in MHP (against SMM refined cobalt (Rotterdam warehouse)) was 94. The FOB price of Indonesian high-grade nickel matte was $15,666/mt Ni.

On March 30, the SMM average price of battery-grade nickel sulphate remained stable.

As of now, Indonesia's MHP nickel FOB price was $15,355/mt Ni, and Indonesia's MHP cobalt FOB price was $51,232/mt Co. MHP payables (against the SMM battery-grade nickel sulphate index) were 87-88, and the payable indicator for MHP cobalt element (against SMM refined cobalt (Rotterdam warehouse)) was 94. Indonesia's high-grade nickel matte FOB price was $15,637/mt Ni.

On March 25, the SMM average price of battery-grade nickel sulphate remained stable.

As of Thursday this week, the average SMM battery-grade nickel sulphate price edged down slightly WoW. Demand side, trading sentiment was weak in mid-month, and some producers made inquiries recently, but as downstream orders remained unclear, acceptance of high-priced nickel salt was weak; supply side, due to uncertainty in Indonesia's recent MHP supply, MHP payables moved higher, driving up raw material costs for some producers and correspondingly lifting their quotes. Looking ahead, with the month-end procurement period approaching, attention should be paid to support from the raw material side for nickel sulphate prices. Inventory, this week upstream nickel salt smelter inventory index held at 4.7 days, downstream precursor plant inventory index fell from 7.1 days to 6.8 days, and integrated enterprises' inventory index held at 6.8 days; in terms of buyer-seller strength, this week the upstream nickel salt smelters' Willingness to Sell Sentiment Factor held at 1.8, the downstream precursor plants' procurement sentiment factor fell from 2.7 to 2.6, and integrated enterprises' sentiment factor held at 2.4. (Historical data is available in the database.)

The listing-based trading on the Anhuida platform under the SMM Trading Center has remained active. The platform’s listing hall brings together high-quality supply sources across diverse non-ferrous metal categories, with top-tier enterprises launching bulk lots one after another. Through the efficient integration of self-listing and intelligent matching models with the supply and demand of upstream and downstream players in the industry chain, it has become an important matchmaking channel for spot trading in non-ferrous metals. To date, the platform has attracted a cumulative total of 10,171 registered enterprises, with cumulative transaction value reaching 1.98328 billion yuan and cumulative trading volume totaling 49.5719 million mt. Its trading scale and industry influence have steadily increased. As a concentration- and transparency-driven spot trading segment for non-ferrous metals, the Anhuida platform’s listing hall covers common non-ferrous metals such as copper, aluminum, zinc, and nickel, as well as new energy and minor metal categories including tin ingot and battery-grade nickel sulphate. It supports enterprises in independently publishing buy and sell intentions and offers multiple trading methods such as direct connection and intelligent matching, enabling buyers and sellers to quickly present their needs and identify counterparties, thereby significantly improving the efficiency of spot trading. Recently, the platform has featured a rich variety of popular listed categories with ample supply. It includes listings of scarce categories such as imported Indonesian tin ingot, while core new energy raw materials such as battery-grade nickel sulphate have also been launched in batches. Top industry enterprises including MCC Ramu New Energy Technology Co., Ltd. and Wanhua Chemical (Yantai) Battery Industry Co., Ltd. have all published multiple batches of battery-grade nickel sulphate sales listings on the platform, with single-batch listing Volume ranging from 66 mt to 99 mt. This has provided upstream and downstream enterprises in the new energy industry chain with stable and high-quality supply channels, effectively ensuring the smooth and efficient operation of the industry chain and supply chain. With its concentrated and transparent trading environment and flexible, diversified trading methods, the Anhuida platform’s listing hall has continued to build an efficient bridge for supply and demand matching in the non-ferrous metals industry, helping enterprises reduce transaction communication costs and optimize resource allocation. In the future, the platform will continue to enrich listed categories and improve trading functions, further invigorating the spot trading market for non-ferrous metals. Trading Platform Link: Contact for Inquiries: 021-51666886 Inquiry Email: anhuida@smm.cn

On March 18, the SMM average price of battery-grade nickel sulphate remained unchanged.

On March 17, the SMM average price of battery-grade nickel sulphate remained unchanged.