SMM Cobalt Morning Meeting Summary: This week, the spot price of cobalt sulphate dropped slightly. On the supply side, the quotes from mainstream cobalt sulphate smelters remained relatively stable, while some recycling plants saw a certain decline in their quotes. On the demand side, orders from ternary cathode precursor producers did not show significant recovery. Refined cobalt production was cut due to weak economic viability. Co3O4 producers were still depleting their inventory due to excessive stockpiling in the early stage. Coupled with the uncertainty surrounding future policies in the DRC, downstream producers generally adopted a wait-and-see attitude, remaining cautious overall, with consistently low purchase willingness. Spot transactions of cobalt sulphate were extremely mediocre. It is expected that before the official implementation of the policies, the spot price of cobalt sulphate will continue to fluctuate weakly.

[SMM Cobalt and Lithium Morning Meeting Summary: This week, the market price of iron phosphate showed a downward trend. To regain market favour, some high-priced iron phosphate products actively adjusted their pricing strategies. Meanwhile, the prices of raw materials remained stable, with no upward cost pressure observed. The shipment speed of iron phosphate is mainly influenced by the production status of downstream LFP. Currently, the overall performance of the iron phosphate market is stable, lacking significant fluctuations.

[SMM Analysis: Summary of LFP Market in the Second Week of June] This week, the price of LFP showed a trend of stopping falling and rebounding, with an overall increase of approximately 170 yuan/mt. This was mainly due to the upward inflection point in the price of lithium carbonate this week, which accumulated an increase of approximately 450 yuan/mt.

This week, the spot price of lithium carbonate showed a slight upward trend. Despite the continuous upward shift in the price center, actual market transactions remained sluggish.

This week, the prices of ternary cathode material continued to decline. In terms of raw material costs, the price of cobalt sulphate continued to drop slightly, while the prices of nickel sulphate and manganese sulphate remained stable for the time being. Lithium carbonate rebounded to a certain extent due to macro sentiment, while the price of lithium hydroxide still showed a clear downward trend.

This week, prices of 5-series, 6-series, and 8-series products in the ternary cathode precursor market continued to decline.

[Cobalt chloride prices dropped back slightly this week, with leading producers still refusing to budge on prices] This week, the spot price of cobalt chloride pulled back slightly. ......

[Co3O4 prices continued to retreat this week] This week, the spot price of Co3O4 in the market continued to retreat. ......

[Separator Prices Remain Stable] SMM reported on June 12: The separator market prices remained generally stable this week. Specifically, the mainstream quotations for wet-process separators were as follows: 5μm at 1.35 yuan/m², 7μm at 0.76 yuan/m², and 9μm at 0.74 yuan/m²...