Ternary cathode material market shows mediocre performance [SMM Weekly Review of Ternary Cathode Material Market]

Published: Jun 5, 2025 17:33

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This week, the prices of ternary cathode materials continued to decline. On the raw material cost side, nickel sulphate, cobalt sulphate, and manganese sulphate all showed a slight downward trend, while the prices of lithium carbonate and lithium hydroxide had not yet hit bottom and continued to face downward pressure.

This week, ternary cathode material prices continued to decline. Cost side, nickel sulphate, cobalt sulphate, and manganese sulphate all dropped slightly, while lithium carbonate and lithium hydroxide prices remained under pressure without hitting bottom.

NEV market side, end-user auto sales fell short of expectations, leading to sluggish demand for cathode materials and weak market sentiment. Except for some leading battery cell manufacturers whose orders increased, overall demand stayed sluggish.

Consumer market side, despite rising overseas demand, producers had stockpiled raw materials during the March-April price surge. Facing the current downtrend in raw material prices, the market held bearish views on cobalt salt and lithium chemicals. Additionally, stockpiling for the '618' shopping festival ended, with companies generally shifting to destocking.

Price trend side, lithium carbonate, nickel sulphate, and cobalt sulphate still have further downside room. Ternary cathode material prices, affected by upstream raw material fluctuations, may continue to decline.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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