Lithium: The demand for lithium ore improved with lithium salt smelters raising the capacity utilization rates. But the market was still filled with wait-and-see sentiment as the lithium carbonate prices dropped recently. Some lithium ore traders signed long-term tolling orders with smelters, leading even fewer small orders on the market. It is expected that the lithium ore prices still remain stable in the near term. For lithium carbonate, the prices of battery grade lithium carbonate edged down, and the market transactions were muted. The smelters were still firm to the prices, while the downstream cathode active material factories stood on the sidelines. It is expected that the lithium carbonate will keep rangebound in the near term.
Nickel: The MHP supply in Indonesia rose rapidly, leading to rising nickel sulfate supply in China in the future. Meanwhile, some integrated producers sold nickel sulfate, further booming the nickel sulfate supply. While the end-market demand recovered slowly, the downstream inquiries were relatively active ahead of the Labor Day holiday, supporting the nickel prices. It is likely that the nickel sulfate prices will remain flat at present, and then begin to fall when the supply starts to pick up.
Cobalt: The bids for cobalt sulfate dropped to around Yuan 30,000/tonne yesterday amid constantly falling overseas cobalt prices and lackluster downstream demand. The top-tier smelters insisted on Yuan 31,500/tonne, and the transactions were muted. The market players were generally bearish on falling raw material prices.
Battery scrap: The battery black mass prices were stable yesterday, but the hydrometallurgical plants showed less interest in buying LFP black mass. Some traders were willing to sell in the case of further price drop in the future.
Repurposing: The transactions on the repurposing market were mostly with EV chassis. The orders from the energy storage sector picked up yesterday.