SHANGHAI, Nov 17 (SMM) – China produced 38,879 mt of ternary cathode material in October, up 4.7% MoM and 54% YoY.
On the supply side, the impact of power rationing in Hunan was eased. Most companies resumed their production after the National Day holiday. The impact of power rationing in Jiangsu, Guangdong, Zhejiang and other places is relatively small. The production capacity of most ternary companies has recovered, and some companies have expanded the capacity. The overall output increased.
On the demand side, high-nickel ternary orders at leading battery plants remained stable, while high-nickel orders at other domestic and overseas companies have increased slightly. The overall demand for high-nickel has increased.
There is still an increase in demand for the 5 and 6-series products in the motive power market, and the overall ternary demand has increased.
In October, the proportion of the 5, 6, and 8-series products remained stable. Downstream orders increased slightly as the impact of domestic power rationing was eased. The overall proportion changed little. Domestic motive power high-nickel orders stabilised, and overseas high-nickel demand was still increasing. In addition, domestic electrical tools and high-end digital equipment demand was bullish. The overall high-nickel demand was growing steadily.
The demand from the motive power market remains high in November. The power rationing basically ended, the production capacity returned to normal and the new production lines have been commissioned. The output is expected to stand at 41,675 mt in November, up 7.2% MoM and 47% YoY.
