This week, in the ternary cathode precursor market, prices of 5-series for consumer electronics, 6-series for consumer electronics, and 8-series for NEV continued to rebound.
On the raw material cost side, prices of nickel sulphate and cobalt sulphate rose slightly. Although the price of manganese sulphate dropped back slightly, it failed to offset the upward push of nickel salt and cobalt salt on precursor prices, thereby driving the prices of various series of precursor products to rebound.
Demand side, the overall market sentiment was relatively cold this week. The ternary market lacked new demand drivers, and companies still executed according to production schedules and existing orders. The overall demand in April is expected to change little compared to March. In terms of specific product models, mid-nickel products had relatively good demand this month, and the market share of 6-series ternary cathode precursors is expected to increase. Supply side, affected by the long-term losses of precursor products, companies had a strong sentiment to stand firm on quotes, and transaction prices remained firm. Considering the significant market fluctuations this year, producers of precursors for NEV generally no longer sign long-term orders (such as half a year or one year), but instead adopt monthly negotiated discounts. Meanwhile, some manufacturers have raised the discount coefficient for cobalt sulphate. In the consumer electronics precursor market, spot orders still dominate.
Looking ahead to next week, sulphate prices are expected to rebound slightly, and precursor prices may rise slightly driven by the increase in raw material prices.
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