Demand for medium- to high-nickel ternary cathode materials is good [SMM Weekly Review of Ternary Cathode Material Market]

This week, ternary cathode material prices continued their downward trend. Cost side, cobalt sulphate prices dropped slightly, nickel sulphate and manganese sulphate prices remained stable, lithium carbonate rebounded moderately due to macro sentiment, while lithium hydroxide prices still showed a significant downward trend.

NEV market side, June was the traditional off-season for the NEV market, with mediocre auto sales performance. However, some leading battery cell manufacturers demonstrated notable growth in procurement demand for medium-high nickel ternary materials, primarily for two reasons: stockpiling for upcoming new car models and product verification at overseas battery cell manufacturers. Consumer market side, the consumer electronics industry entered inventory destocking phase, with orders and production schedules pulling back, while end-use demand maintained an overall favorable trend. Small power market side, demand in Southeast Asia and India performed well, with relatively active recent orders.

Overall, market transactions showed mediocre performance, with companies closely monitoring the impact of DRC trade policies on raw material price trends. In the short term, ternary cathode material prices are expected to continue their downward trajectory.