[SMM Analysis] This Week's Hydrometallurgy Recycling Market: Salt Prices Fluctuated, and Market Transactions Were Sluggish (2026.3.16-2026.3.19)

SMM, March 19:

Raw material side, lithium carbonate prices fluctuated this week, cobalt sulphate prices were temporarily stable, and nickel sulphate prices dropped slightly.

This week, by material type across ternary, LCO, and LFP, on the LFP hydrometallurgical side, taking LFP pole piece black mass as an example, current LFP pole piece black mass prices were 6,400-6,750 yuan/prices per % lithium, with the transaction center edging down slightly from last Thursday. As the center of transaction prices for lithium carbonate futures and spot declined somewhat this week, LFP black mass prices also experienced a small rise first and then a decline during the week, but the overall transaction center still moved lower. On the ternary and raw material side, similar to LFP hydrometallurgical enterprises, ternary hydrometallurgical enterprises have now fully resumed normal purchase. However, as nickel and cobalt prices changed relatively little, and some enterprises made just-in-time procurement at the beginning of the month, with current policies for various categories still unclear and prices fluctuating, market transactions in ternary and pure cobalt scrap were relatively sluggish this week, basically flat from last week.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711