According to SMM data, on August 5, the SMM average price of battery-grade nickel sulphate decreased by 5 yuan/mt from yesterday.

On August 5, the SMM average price of battery-grade nickel sulphate slightly decreased.

As of now, the Indonesia MHP nickel FOB price stood at $15,348/mt Ni, and the Indonesia MHP cobalt FOB price was $49,311/mt Co. The MHP payables for SMM battery-grade nickel sulphate index were 85-86%, while the MHP cobalt element payable indicator for SMM refined cobalt (Rotterdam warehouse) was 92%. The Indonesia high-grade nickel matte FOB price was $15,731/mt Ni.

On August 4, the SMM battery-grade nickel sulphate average price remained stable.

[SMM Cobalt & Lithium Morning Call: Raw Material Prices Diverge, Industry Demand Maintains Structural Support] This week, industry chain prices showed divergence. Lithium ore, lithium chemicals, nickel chemicals and cobalt products were overall under pressure. Downstream procurement remained focused on long-term contract cargo pick-ups and essential restocking, and the market still held expectations of increasing supply and price declines in the long term. Cathode material side, ternary system prices pulled back along with raw material costs, while LFP and iron phosphate strengthened slightly, supported by order growth and cost support. Anode and separator markets held stable overall, and electrolyte moved up, driven by rising additive and solvent prices. Demand from energy storage, commercial vehicles and markets outside China maintained good performance, supporting continued growth in the industry's production schedules, but recovery on the consumption side remained relatively slow.

[8.4 Morning Briefing] Trump stated that an agreement has been reached regarding the Strait of Hormuz, and an agreement on denuclearization will also be reached, with negotiations scheduled to begin on Monday afternoon; Iranian Foreign Ministry spokesman Baghaei stated that the situation in the Strait of Hormuz will not return to the pre-conflict state, and the new shipping lane agreed with Oman will be determined through mutual consultations. The most-traded SHFE nickel 2609 contract plunged below 130,000 yuan in the morning session, closing at 129,520 yuan/mt at the end of the morning session, down 1.91%. As U.S.-Iran negotiations begin, the Strait of Hormuz is expected to resume navigation, sulfur cost support has weakened, and nickel prices have fallen sharply. In the short term, the most-traded SHFE nickel contract is expected to trade in the range of 128,000-135,000 yuan/mt.

At the beginning of this week, the overall industry chain was relatively weak, with the price center of electrolytic metals, intermediates, and salts continuing to decline. During the traditional off-season, downstream purchasing was mainly small-scale, just-in-need buying. Cost support from virgin materials remained, but recycled materials, low-priced older stocks, and re-dissolution routes persistently depressed market psychological price levels, intensifying price negotiation divergences between upstream and downstream. The ternary cathode precursor and ternary cathode material markets weakened simultaneously due to falling raw material prices. August orders showed steady growth, but consumer-side demand had yet to recover significantly. The supply-demand balance for LCO remained weak, and short-term prices were expected to remain stable.

According to SMM data, on August 3, the SMM battery-grade nickel sulphate average price slipped 20 yuan/mt from the previous day.

As of now, the FOB price of Indonesian MHP nickel is $15,418/mt Ni, and the FOB price of Indonesian MHP cobalt is $49,331/mt Co. The MHP payables (against SMM battery-grade nickel sulphate index) are 85-86, and the MHP cobalt payables (against SMM refined cobalt (Rotterdam warehouse)) is 92. The FOB price of Indonesian high-grade nickel matte is $15,802/mt Ni.

On July 31, the SMM battery-grade nickel sulphate average price edged down slightly.