[SMM Flash News] Huayou Cobalt: H1 ternary cathode precursor shipments 80,800 mt, up about 94% YoY

Prices in the second-life application market edged down this week, with trading sentiment remaining sluggish. The broad weakening of raw materials on the cost side was the main driver behind this round of price adjustments. The cost side shifted notably lower overall, with raw materials weakening across the board. This week, lithium carbonate fell markedly, cobalt sulphate pulled back sharply, and nickel sulphate extended its earlier weakness. The synchronized softening of the three core raw materials continued to erode cost support for second-life products. On the supply side, conditions remained generally stable, with smooth circulation of goods across all categories and no concentrated release or tightening of supply. The supply side was relatively neutral, and suppliers gradually lowered their quotes as costs eased. On the demand side, the subdued pattern persisted, with downstream purchase willingness remaining weak. The transmission of raw material prices has not yet fully taken hold, but the sharp cost fluctuations have already pushed transaction prices lower, while also intensifying wait-and-see sentiment in the market, with insufficient follow-through in transactions.

Raw material side this week, lithium carbonate futures prices accelerated downward to around 100,000 yuan/mt, quoted at 101,800-107,000 yuan/mt on October 15. Nickel sulphate maintained a grind-lower trend, while cobalt sulphate prices continued to decline under weak demand. For ternary, LCO, and LFP material types, on the LFP hydrometallurgy side, taking LFP electrode black mass as an example, prices were quoted at 4,800-5,300 yuan per % lithium as of October 15, down sharply by 975 yuan per % lithium from the first day after the holiday. Affected by the continued decline in lithium carbonate after the holiday, downstream acceptance of current prices per % lithium weakened further, and cargo holders increased concessions to sell. At this stage, LFP battery black mass was quoted at 4,150-4,400 yuan per % lithium, with the price spread against electrode black mass still holding at a high level of around 800 yuan per % lithium. On the ternary and LCO side, ternary electrode black mass payables were around 71%-73%, down about 1.2 percentage points cumulatively from the first day after the holiday. Some high-nickel ternary electrode black mass, such as 8-series and 9-series material, saw transaction payables fall to around 72%-75%. Affected by cobalt and lithium material prices, LCO electrode black mass cobalt-lithium payables fell to 67%-70%, while LCO battery black mass cobalt-lithium payables were 66%-69%. At this stage, cobalt sulphate prices fell by more than 4,000 yuan/mt from the first day after the holiday. Downstream LCO hydrometallurgy enterprises remained cautious in purchasing, market transactions were sluggish, and LCO-side prices continued to stay below the ternary side.

[SMM Lithium Battery Electrolyte Market Weekly Review: Electrolyte Prices Remained Stable This Week, 2026.10.12-10.15] From October 12 to October 15, 2026, electrolyte prices remained stable. The future market trend of electrolyte prices still needs continuous tracking of raw material price fluctuations and their transmission.