SHANGHAI, Apr 29 (SMM) – Cobalt and nickel prices continued to decline in April. Volatile raw material prices affected downstream purchasing sentiment. Battery makers did not accept battery material prices.
Demand from small motive power and digital markets was weak. In this context, the price of ternary precursors continued to fall. Current prices are close to costs of some precursor producers. Market transactions were lacklustre.
Industrial-grade lithium carbonate prices fell slightly this month. Downstream material producers restocked a few of cargoes amid bearish sentiment. LFP plants signed more long-term orders with prices staying stable. LFP prices are expected to trend lower at end-April with reference to lithium salt prices. LMO prices stabilised amid higher stocks at downstream plants, weak end-user demand and thinned trades of small orders.