Morning briefing: Cobalt prices fall on weak supply and demand

Lithium: The lithium ore bids dropped recently along with soft lithium carbonate prices. The market players were cautious as a whole on pessimism towards lithium prices. It is expected that the lithium ore prices will edge down in the near term. For lithium carbonate, the futures prices dropped yesterday afternoon, which encouraged market transactions. It is expected that the lithium carbonate prices will stay on the downward track in the near term.

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. Nickel sulfate prices therefore rebounded slightly on strong cost support, and the smelters also held the prices firm. The downstream precursor plants purchased on demand, but refused to accept high-priced nickel sulfate. It is expected that the nickel sulfate prices will be flat amid the tug-of-war between the sellers and buyers.

Cobalt: The cobalt sulfate market was weak in both supply and demand, on the backdrop of falling international cobalt prices. The mainstream smelters still suffered losses, and the end-market was muted as a whole. It is expected that the cobalt sulfate prices will keep falling in the near term.

Battery scrap: The battery black mass prices were stable yesterday. The bids and offers from the buyers and sellers differed greatly, leading to few transactions. The hydrometallurgical plants were slow in purchasing due to high market prices.

Repurposing: The prices of battery cells for repurposing purpose dropped yesterday, primarily because the traders sold off. In detail, the prices of large-capacity battery cells were more volatile, while the NMC and other small-capacity battery cells were little changed in quotations.