Lithium: The demand for lithium ore was lackluster as the smelters' raw material inventory was sufficient, but the traders were relatively active thanks to the use of hedging tools. It is likely that the lithium ore prices will hover rangebound in the near term. For lithium carbonate, both the spot and futures prices dropped, and the market bids and offers picked up slightly. The market transactions improved compared with the previous few days. It is likely that the lithium carbonate prices will move rangebound in the near term.
Nickel: The demand did not show improvement still with poor transactions, and the quotations were mostly at Yuan 25,000-25,500/tonne. With the ternary cathode material factories reducing the production in November, the demand for nickel sulfate stood poor. Nevertheless, the firm nickel price will probably offer certain cost support to nickel sulfate.
Cobalt: With the cobalt chemicals market filled with bearish sentiment, the downstream players were especially cautious approaching the year-end. The producers slightly reduced the quotations on pressure, but refused to cut the prices significantly due to poor profits. Since the fundamentals did not change much, the spot prices of cobalt chemicals are likely to stay on the downtrend.
Battery scrap: The battery scrap prices remained stable yesterday. The hydrometallurgical plants stood on the sidelines on price volatility, and the transactions were muted. It is expected that the scrap prices will hover at the current level for the moment.
