Lithium: The lithium ore prices showed signs of rising with sellers holding the prices firm and domestic supply staying tight. And lepidolite prices jumped as the consumers had to accept the high-priced goods on rigid demand. It is likely that the lithium ore prices will hover rangebound in the near term. For lithium carbonate, the futures prices inched down, and the bids and offers remained active. The transactions were modest, and there were also transactions among the traders. It is likely that the lithium carbonate spot prices will hover at the current level at the moment.
Nickel: The quotations for nickel sulfate were mostly around Yuan 25,000-25,500/tonne. Though the production scheduling of top-tier integrated producers was sound, the demand for outsourced raw materials was muted. On the other hand, the independent cathode factories were cautious in building raw material stocks. Therefore, it is likely that the nickel sulfate prices will remain flat with the nickel price staying rangebound.
Cobalt: The intermediate cobalt prices stabilized recently, and the cobalt chemicals producers focused on the negotiations of raw material long-term orders for 2025. It is likely that the spot supply of intermediates will tighten in the future. For cobalt chemcials, the producers maintain low operating rates, but the demand is even weaker in the traditional off-season. In addition, the players will focus on destocking entering December. It is likely that the cobalt chemicals prices will remain stable with occasional fall in the near future.
Battery scrap: The battery scrap absolute prices were unchanged yesterday, allowing few opportunities for speculation. LFP scrap supply was tight following active transactions earlier when the prices were on the rise. NMC scrap prices were stable, and the hydrometallurgical plants maintained normal purchases.
