Nickel Sulphate Prices Decline Amid Sluggish Spot Order Market
The nickel sulphate market experienced a sluggish spot order market on August 19, leading to a decline in prices. The SMM battery-grade nickel sulphate average price edged down slightly that day.
On the cost side, copper prices pulled back, causing the non-ferrous metals market to weaken and dragging nickel prices further down. This, in turn, weakened spot costs for nickel sulphate production.
However, some producers chose to hold their prices firm due to high costs, while others sought to sell and destock with high inventory levels.
The demand side was also affected, as some downstream enterprises relied on long-term contract supply rather than building spot order inventory. This resulted in relatively low acceptance of nickel salt prices.
Looking ahead, the short-term spot order market is expected to remain sluggish, putting overall pressure on nickel sulphate prices.