Lithium: The transactions of lithium ore slowed recently, and the ore traders were unwilling to sell amid tight supply of spots. The downstream players were active in making inquiries, but refused to accept the high prices. It is expected that the lithium ore prices will stabilize in the near term. For lithium carbonate, the spot prices edged down yesterday, while the futures prices rebounded. The downstream players stockpiled on demand with higher bids. It is expected that the lithium carbonate prices will keep rangebound.
Nickel: The spot MHP production in Indonesia rose rapidly, which is expected to shore up the supply in China in the future. Some integrated producers started to sell nickel sulfate, leading to rising supply. But the end-market was still slow in recovery, and producing nickel plate with nickel suflate was not profitable. The nickel sulfate prices are projected to fall with mounting oversupply.
Cobalt: The cost support of cobalt sulfate weakened further when the prices of intermediates were below $6/lb. In addition, the market players stood on the sidelines as the cobalt sulfate prices lacked momentu, especially when they were genearlly bearish towards the follow-up price moves. The smelters continuously lowered the prices, but the transactions were poor still.
Battery scrap: The prices of battery black mass were little changed yesterday. The NMC black mass was mostly purchased by hydrometallurgical plants, with fewer circulating among the traders. The plants lowered the bids in the face of falling metal salts prices, but the sellers refused to accept. The LFP black mass sector was quiet as well as the market players turned slightly bearish on lithium carbonate prices.
Repurposing: The prices of B grade battery cells dropped slightly. Most of the transactions were small orders, with EV chassis being more popular. The downstream household energy storage was more active.