NMC Material Prices Drop on Falling Raw Material Costs

SHANGHAI, Mar 16 (SMM) - In early February, the costs of NMC material companies dropped amid the slumping lithium salt prices. The demand recovered slower than expected after the CNY, and the spot liquidity was low. Most small and medium-sized NMC material manufacturers had to lower their quotes to ship. In mid-to-late February, NMC material prices declined further. The costs fell following the lithium salt prices. On the other hand, the recovery of domestic demand was still poor, while overseas demand grew slightly. The market inquiries were slack since the declining raw material prices aroused a strong wait-and-see sentiment among market traders.