This week, ternary cathode material prices continued their significant upward trend. Cost side, lithium carbonate and lithium hydroxide prices were in a phase of minor fluctuations, while cobalt sulphate and nickel sulphate maintained their substantial upward trajectory, providing strong support for ternary cathode material costs.
Overall market demand performed well this month, but producers faced considerable cost pressure, and raw material price trends remained highly uncertain. Considering factors such as the persistently tight supply of nickel sulphate, the extension of cobalt export policies in the DRC, and the imminent release of domestic lithium mining-related policies, ternary cathode material prices are expected to rise further in Q4.
Demand side, pre-National Day stockpiling combined with robust demand in the domestic EV market drove an increase in producer operating rates, with current orders at relatively high levels for the year. Demand is expected to gradually pull back after October.
