[SMM Analysis] A Review of This Week's Scrap Spot Price Trends, 2024.12.23-2024.12.27

SMM December 27 News: This week, the recycled scrap market prices remained basically stable. Material side, lithium carbonate prices showed sideways movement this week, exerting relatively weak influence on scrap prices. In the LFP sector, as the end of December approached, demand in the ESS sector slightly declined. However, due to some enterprises stocking up before the year-end, despite lithium chemicals production costs still incurring losses, the price center of LFP pole piece black mass lithium points continued to fluctuate around 2,800-2,900 yuan. In the ternary sector, nickel sulphate prices continued the slight upward trend from last week, while cobalt sulphate prices dropped slightly. Coupled with the sideways movement of lithium carbonate prices, the ternary pole piece coefficient remained basically stable this week. Supply and demand side, sentiment to stand firm on quotes for unbroken battery scrap remained strong. However, influenced by losses and uncertainties in Q1, most enterprises showed low willingness to accept high-priced black mass. Even as the year-end approached, they were reluctant to stockpile excessively, maintaining just-in-time procurement for processing and production. It is expected that in the short term, scrap prices will remain stable despite fluctuations in raw material prices.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Ying Xu 021-51666707

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Xiaodan Yu 021-20707870

Zhicheng Zhou 021-51666711

He Zhang 021-20707850