Lithium: The strong lithium carbonate futures prices lifted the lithium ore spot prices yesterday, encouraging some traders to sell. With the lithium ore spot supply staying tight, it is likely that the lithium ore prices will move rangebound in the near term. For lithium carbonate, the futures prices rose while the spot prices stabilize. The market transactions were flat yesterday amidst relatively tight supply of spots. It is projected that the lithium carbonate spot prices are likely to move rangebound with occasional drops in the near term.
Nickel: With the market players standing on the sidelines, the nickel sulfate producers became less firm to the prices as the nickel prices fell constantly. The quotations were mostly around Yuan 27,000/tonne, and the cathode factories were slow in purchasing though it was the month-end. The nickel sulfate prices are likely to stay soft for lack of support on the cost end.
Cobalt: The cobalt intermediates prices were still soft recently, and the inquiries from downstream players picked up. But the demand was less than expected on the whole, with poor transactions. It is likely that the cobalt sulfate and cobalt chloride prices will move between Yuan 26,500/tonne and Yuan 34,000/tonne respectively in the short period.
Battery scrap: The battery scrap prices fell along with declining lithium carbonate prices last week, but the payables of NMC and LCO black mass were little changed. The transactions were restricted by the current price levels, and the sellers also refrained from selling. The operating rates of downstream players dropped recently.
