【SMM Analysis】The Price of Ternary Cathode Precursor Remains Firm, May Continue to Fluctuate and Adjust Next Week

This week, the ternary cathode precursor market remained firm, with prices of 5-series consumer, 6-series consumer, and 8-series power products showing relatively small fluctuations.

In terms of raw material costs, nickel sulphate and manganese sulphate prices rose slightly, while cobalt sulphate exhibited a short-term fluctuating trend due to the cobalt export ban in the DRC and market sentiment disturbances, driving slight increases in prices across various series of precursors.

Demand side, affected by the significant rise in raw material prices in March, some cathode material producers may have signed a small number of orders for early stockpiling, but the overall market maintained a cautious wait-and-see attitude, closely monitoring changes in international trade policies and situations. The supply of power-type precursors still mainly relied on previously signed long-term contracts, while consumer-type precursors, being more price-sensitive, were mostly traded through spot orders. Supply side, rising raw material prices and long-term losses strengthened producers' sentiment to stand firm on quotes, keeping transaction prices firm. Long-term contract execution remained stable, while spot order pricing was conducted through separate negotiations for nickel sulphate, cobalt sulphate, and manganese sulphate.

Next week, raw material prices are expected to continue fluctuating slightly under the influence of market sentiment and international trade policies. Precursor prices are expected to remain relatively firm overall, showing a slight fluctuating trend.

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