This week, the prices of 5-series and 6-series consumer-grade products, as well as 8-series power-grade products in the ternary cathode precursor market, showed a continuous and significant upward trend.
In terms of raw material costs, influenced by the cobalt export ban in the DRC and the overall sentiment to stand firm on quotes in the raw material market, the prices of nickel sulphate and manganese sulphate continued to rise slightly, while cobalt sulphate prices surged significantly, driving up precursor prices across various series to varying degrees.
Demand side, some material manufacturers, anticipating a continued rise in raw material prices, began small-scale stockpiling; some small and medium-sized material manufacturers, lacking back-to-back raw material support, exhibited certain purchase needs. Although the market remained largely in a wait-and-see mode, purchase willingness increased significantly WoW. Supply side, the sharp rise in raw material costs exacerbated the losses for precursor manufacturers, leading to strong sentiment to stand firm on quotes, with spot order quotation coefficients adjusted upward.
Looking ahead to next week, sulphate prices are expected to continue rising. Under the combined influence of strong sentiment to stand firm on quotes from precursor manufacturers and certain restocking demand downstream, precursor prices are likely to rise further.
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