This week, prices of 5-series, 6-series, and 8-series products in the ternary cathode precursor market have all dropped slightly.
From the perspective of raw material costs, nickel sulphate prices have increased slightly, while cobalt sulphate and manganese sulphate prices have fallen due to weak downstream demand. On the demand side, the overall performance of the large power-type precursor market has been relatively mediocre, with some producers experiencing order transfers, but no significant increase in overall demand. Orders for small power and consumer-type precursors have increased recently, but due to the relatively small size of the consumer market, their boost to overall market demand has been limited. Additionally, some downstream ternary cathode material producers currently have sufficient finished product inventories of precursors and are in the destocking phase, with no urgent stockpiling needs, resulting in relatively mediocre trading sentiment recently. In terms of prices, due to weak end-use demand, it is difficult to increase the discount coefficient of ternary cathode precursors at present.
Looking ahead to next week, as the month-end approaches, cathode material producers will enter the traditional stockpiling cycle, and market trading sentiment is expected to turn positive.
