SHANGHAI, Jan 28 (SMM) –
The market was quiet during the Chinese New Year (CNY). Smelters will hold offers firm, despite growing inventory. Inquiries from downstream enterprises may pick up after the holiday break. SMM expects lithium carbonate prices to stabilise or drop slightly.
The market was closed during the holiday, but gradually recovered after the holiday. The top-tier smelters still focused on exports, and export prices changed little amid stable demand. Lithium hydroxide prices may hold steady in the short term.
Most smelters were closed during the CNY holiday due to stagnant logistics and gloomy market, except for major integrated producers. Battery production will recover after the holiday, which will drive demand recovery of upstream precursors and cobalt sulphate. Hence, cobalt sulphate prices may stop falling.
Ternary cathode materials
Most ternary cathode material producers were shut down during the holiday. Demand may recover after the holiday, allowing its prices to stabilise.
Most LFP producers were closed for maintenance during the holiday. LFP producers will become more willing to restock after digesting their inventories. As demand will not recover rapidly after the holiday, LFP prices may stabilise or drop slightly.
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