SMM weekly review and forecast for ternary cathode materials

Ternary cathode material prices dropped slightly last week. On the cost side, the minor increase in precursor prices can hardly offset the impact of the drop in lithium prices. The manufacturing cost declined slightly. On the demand side, the demand in domestic EV terminal pulled up slightly, but domestic consumption and overseas demand are sluggish. The sentiment towards price cuts is strong on the battery side. Some enterprises lowered their quotes to obtain orders, mildly dragging down spot prices. In the market outlook, prices of ternary cathode material may edge down affected by the price of lithium.