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  [SMM Daily Review of Nickel Sulphate] August 8: Nickel salt prices remain unchanged from yesterday

  On August 8, the SMM battery-grade nickel sulphate index price was 27,212 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,190-27,690 yuan/mt, and the average price remaining unchanged from yesterday.

• Secondary lead: Few and firm quotes for secondary refined lead; downstream spot orders with rigid demand for restocking tend to prefer primary lead [SMM Lead Midday Review]

• Silver prices continue to strengthen, suppliers maintain premium and are reluctant to sell, resulting in light transactions [SMM Daily Review]

• SHFE tin continues to fluctuate at highs, with expectations for US Fed interest rate cut continuing to ferment as the core support [SMM tin midday review]

  [SMM Tin Midday Review: SHFE Tin Continues to Fluctuate at Highs, with Expectations for US Fed Interest Rate Cut Continuing to Fester as Core Support] On the afternoon of August 8, 2025, the most-traded SHFE tin contract (SN2509) closed at 268,020 yuan/mt, up approximately 490 yuan from the previous day's settlement price, representing a 0.18% increase. Prices fluctuated at highs during the day, with the trading range narrowing to 267,260-268,790 yuan/mt. Market sentiment was cautious, with downstream order volumes remaining low. Meanwhile, the LME tin contract pulled back slightly to around $33,720 in the early Asian session, reflecting overseas bullish sentiment being disrupted by both macro policies and inventory divergence.

• [SMM Nickel Midday Review] On August 8, nickel prices dropped slightly, with Waller becoming a hot candidate for the new chair of the US Fed