SMM January 16 News:
This week, the recycled scrap market prices fluctuated. Supply side: This week, cobalt sulphate prices remained basically stable, lithium carbonate prices continued to rise due to pre-holiday stockpiling, and nickel sulphate prices also increased due to tight market supply and slight destocking. However, as the Chinese New Year approaches, most companies have completed stockpiling, and the room for further price increases before the holiday is expected to be relatively limited. Some traders, however, are optimistic about the rising prices of nickel and lithium chemicals, coupled with some downstream companies still considering stockpiling, leading to strong sentiment to stand firm on quotes. Currently, most small and medium-sized hydrometallurgical plants are facing continued inverted scrap prices and relatively small year-end price fluctuations, making it difficult for the market to pick up. Some are planning to take an early holiday before the Chinese New Year, while leading manufacturers maintain normal production but are also not stockpiling significantly. Demand side: Most hydrometallurgical companies had completed their pre-holiday stockpiling by the end of December. As the year-end approaches, most companies prefer to operate at low flow rates and are less willing to accept high-priced black mass. This week, buyers and sellers remained at a price stalemate, and transactions were sluggish. As the Chinese New Year draws closer, most companies have low willingness to ship or purchase. In the short term, black mass prices are expected to continue fluctuating with the prices of nickel, cobalt, and lithium chemicals, while the black mass coefficient is likely to remain temporarily stable due to weak supply and demand.
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
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