Lithium: The lithium ore market was stable ahead of the Labour Day holiday after the downstream lithium smelters finished stockpiling. And the lithium ore prices are projected to remain stable in the near term. For lithium carbonate, the spot prices rebounded in the last trading day. There were few bids or offers heard on the market before the Labour Day holiday, and the downstream players stood on the sidelines after building the stocks. It is expected that the lithium carbonate prices will move rangebound in the short period.
Nickel: The nickel sulfate prices gained momentum recently with the delayed port arrivals of MHP as well as some integrated producers refraining from selling nickel sulfate. The market inquiries were relatively active as the downstream precursor plants stockpiled for the Labor Day holiday. But the transaction prices were relatively low. It is expected that the nickel sulfate prices will stay flat in the near term.
Cobalt: The cobalt sulfate prices lacked momentum in the face of sluggish demand generated by the power battery sector. It is expected that the prices will remain soft for the lack of driving forces from the demand side. In addition, some smelters started to sell off, further weighing on the spot prices, in addition to low raw material prices. It is expected that the cobalt sulfate prices will extend the weakness in the near term.
Battery scrap: The NMC and LCO black mass prices were volatile subject to the moves of metal salts prices, while the offers of LFP black mass were little changed. The supply was mostly production waste. The market players were wait-and-see ahead of the Labour Day holiday.
Repurposing: The transactions on the repurposing market were poor ahead of the holiday, and the transactions were generally on rigid demand. The popular cylindrical battery cells circulated basically among the traders.