[SMM Analysis] After the holiday, raw material prices and the price of ternary cathode precursors increased

Published: Feb 26, 2026 17:55

Save

This week, ternary cathode precursor prices increased. Today, nickel sulphate prices rose slightly, cobalt sulphate prices remained stable, and manganese sulphate prices edged up only marginally.

This week, ternary cathode precursor prices increased. Today, nickel sulphate prices rose slightly, cobalt sulphate prices remained stable, and manganese sulphate prices edged up only marginally.

Discount-wise, it has become more common for the market to negotiate discounts on a monthly or quarterly basis. For March orders, due to significant fluctuations in raw material prices, some producers intended to raise discounts after the holiday. However, downstream acceptance of higher discounts on long-term contracts did not improve significantly. Currently, spot order discounts for March are expected to increase slightly. There is some upside room for cobalt discounts in long-term contracts, while nickel and manganese discounts are projected to remain basically flat compared to February.

Production side, most precursor producers gradually resumed their production pace after the holiday. Some producers with substantial export orders maintained relatively high production intensity.

Looking ahead, post-holiday nickel, cobalt, and manganese raw material prices generally showed strong momentum. As purchasing demand rebounds following downstream resumption of work, sulphate prices may provide further support to precursor prices from the cost side.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

12 hours ago

Lithium Battery Exports Surge 63% in Jan-Feb 2026, Prices Stabilize After Sharp Drops

According to data from the CPCA, lithium battery exports reached 926,000 mt in January-February 2026, up 63%, while export value rose 43% to $14.2 billion. The export price of lithium-ion batteries fell from $27,300/mt in 2023 and $20,100/mt in 2024 to $15,700/mt, and further to $15,300/mt in 2026. The average price in 2026 declined only 10% YoY, a marked improvement from the 26% drop in 2024 and the 22% drop in 2025.

12 hours ago

14 hours ago

【SMM Analysis】Zhongke Liquid Sunshine (Shawan) Green Hydrogen Zero‑Carbon Project Commences Construction

14 hours ago

18 hours ago

1 Billion m²/Year Dry-Process Separator Project For Lithium/Sodium Batteries Lands In Nanning

Recently, Nanning Urban Construction Investment Group and Huahui New Material Technology Co., Ltd. signed an agreement for the lithium/sodium battery dry-process separator intelligent manufacturing project. The total investment for the project is approximately 500 million yuan. It plans to build a new production line with an annual capacity of 1 billion square meters of dry-process separators for lithium/sodium batteries. The project will introduce Guangxi's first new-generation dry-process uniaxial stretching and 4.2-meter-wide biaxial stretching battery separator production line. It is expected that upon reaching full capacity, the annual output value will be approximately 800 million yuan, creating 170 jobs, and establishing the first battery base film production base in Guangxi.

18 hours ago