Ternary cathode material prices rose sharply this week. On the raw material side, lithium carbonate and lithium hydroxide increased significantly driven by sentiment, while nickel sulphate prices dropped back slightly; cobalt sulphate and manganese sulphate remained stable. In the short term, with sentiment as the main driver, lithium chemicals prices are expected to maintain upward momentum next week. Some downstream battery cell manufacturers, anticipating higher future prices, have recently signed bulk orders, with some producers already securing supply for early next year.
Overall demand remained robust. Domestic EV market demand continued to be robust, with leading cathode material enterprises maintaining high operating rates and prioritizing the fulfillment of long-term contracts. Based on current production schedules, this positive demand trend is expected to continue until the end of the year. In the small power and consumer markets, order signing activity was also relatively active, driven by rising raw material prices. Overseas market demand pulled back recently. Approaching year-end, some manufacturers have begun preliminary discussions on commercial terms for next year's long-term contracts. However, against the backdrop of rapidly rising raw material prices, this is not an ideal time to reach long-term agreements, and specific negotiation outcomes are expected to take some time to become clear.
