Lithium: The lithium ore supply was sufficient, but the transactions were poor as most smelters were slow in purchasing on the spot market, in addition to some in Jiangxi Province took tolling orders extensively. The ore traders refrained from selling on persistently low ore prices. In addition, the Australian mines slightly lowered the prices. The lithium ore sector sees no bullish factors in the near term. For lithium carbonate, some cathode active material factories could maintain production on supplies under long-term contracts, hence the demand for spot lithium carbonate contracted. Moreover, the production scheduling of CAMs has reduced. Lithium carbonate prices are projected to remain weak in the near term.
Nickel: The sellers of nickel sulfate continued to lower the prices amid persistently poor end-market demand, constantly weighing on nickel sulfate prices. Some integrated smelters even sold their raw materials. Looking ahead, with nickel intermediates supply going up and end-market weakening, nickel sulfate prices are expected to remain on the downward track.
Cobalt: The cost support was weak at present, and the long-term orders for raw materials are under negotiation. The end-market demand showed no signs of improvement, and the market players were generally pessimistic. It is expected that cobalt prices will stay on the downward track in the near term.
Battery scrap: The transactions of LFP battery scrap were more active last week, and some traders stockpiled with prices that were slightly higher than the market level, which boosted the market animation. But the actual transactions were still muted. NMC battery scrap prices were weighed on by falling nickel, cobalt, and lithium salts prices, and the hydrometallurgical plants slowed their purchases.
Repurposing: The LFP battery modules prices dropped with the pouring in of A grade battery cells. The NMC battery cell sector was more stable, and the transactions were more active as well. But the downstream demand was sluggish as a whole.
