This week, ternary cathode material prices continued their downward trend. On the raw material front, nickel sulfate and cobalt sulfate edged lower amid subdued trading activity, while manganese sulfate prices rose slightly. Lithium carbonate and lithium hydroxide saw notable declines recently, influenced by capital market volatility.
In terms of transaction sentiment, some manufacturers restocked at lower price levels last week when lithium salt prices fell sharply, leading to relatively active trading. However, entering this week, raw material prices continued to decline with no clear signs of stabilization. With sufficient inventories on hand, downstream battery cell manufacturers generally turned cautious and slowed their procurement pace, resulting in subdued transaction sentiment this week.
On the payable front, influenced by the continued decline in absolute nickel sulfate prices, some ternary cathode manufacturers saw upward adjustments in nickel sulfate payables during settlements. Payables for other metals remained relatively stable.
On the demand side, EV market demand remained at high levels recently, with orders being executed as normal, while consumer market demand continued to stay subdued.
![[SMM Analysis] Spot lithium carbonate prices drifted lower, and downstream buying the dip was active.](https://imgqn.smm.cn/usercenter/oVqJl20251217171730.jpg)
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