SMM weekly review and forecast for ternary cathode precursors

Ternary cathode precursor prices inched higher last week. Mainly driven by the price of cobalt, manufacturing costs increased moderately. Precursor enterprises raised their quotes along with the increase in costs. However, the discouraging demand in the downstream ternary cathode precursor market and the weak transmission of downward costs on the cathode material side have strengthened the sentiment towards price cuts of precursors. The spot price only increased in a small amount. In the market outlook, prices driven by costs may rise steadily and slightly.