Orders in the ternary cathode precursor market are concentrated [SMM Weekly Review of Ternary Cathode Precursor Market]

This week, ternary cathode precursor prices increased slightly. Cost side, nickel sulphate and manganese sulphate prices remained relatively stable, while cobalt sulphate prices rose, driving up the absolute price of precursors. Spot order discount coefficients showed no significant adjustments. Overall demand in the ternary market remained mediocre, lacking solid support for price increases. Downstream battery cell manufacturers still held pricing power over discount coefficients, showing limited response to cobalt sulphate price hikes, with overall discount strategies remaining stable. Long-term contract discounts are expected to stay largely unchanged in the short term.

Demand side, the domestic NEV market saw some improvement in demand for 6-series products, while overseas demand for 8-series products also increased slightly, though overall orders were mainly concentrated among leading producers. The consumer market continued its mediocre trend. Supply side, as July entered the restocking phase, overall production schedules are expected to rebound.