On the fundamentals, the cathode plants currently still primarily sourced feedstock via long-term or tolling agreements, and have not built significant inventories ahead of month-end. Concerns that elevated warehouse receipts will cap peak-season price upside have kept spot buying interest subdued.
On the demand side, LFP cathode producers reported strong orders in August, maintaining a steady production ramp-up with a 5% month-on-month increase in production schedules. LFP cathode production is expected to rise above 600,000 tonnes in September.
