This week, prices of 5-series, 6-series, and 8-series ternary cathode precursors continued to decline. Cost side, nickel sulphate and manganese sulphate prices dropped back slightly, while cobalt sulphate showed a more pronounced downward trend.
NEV market, May performance was generally weak, with supply contracting MoM from April. A recovery is expected in June, particularly driven by stockpiling from downstream car models preparing for launch, leading to notable order growth for 6-series products. In contrast, demand for 5-series remained sluggish, with its market share projected to shrink further, while the 8-series maintained relative stability.
Consumer market, as producers completed raw material stockpiling in March and April, the ongoing price decline has shifted market sentiment to caution, entering a destocking phase. Orders for consumer-grade products are likely to decrease in June.
Price trend, influenced by the persistent drop in cobalt sulphate prices and overall weak demand, precursor prices still face further downside potential.
