SHANGHAI, May 10 (SMM) - China’s ternary cathode precursor output was 53,444 mt in April, down 1% month-on-month, but up 1% year-on-year. The cumulative output was 231,847 mt in January-April, down 2.3% year-on-year.
Precursor plants continued to cut production last month. Digital electronics market recovered mildly. Demand from overseas NEV market weakened, while the domestic NEV market showed no signs of recovery. Affected by faltering downstream demand, some leading precursor manufacturers shut down some of their facilities in April. Competition in the precursor market was fierce, with selling prices mostly below production costs. Some small factories barely received orders due to a lack of cost advantages.
In May, some top-tier precursor producers will step up exports. Demand for low and medium-nickel precursors will see mild growth. Some precursor producers may resume production. SMM predicts that China’s ternary cathode precursor output will stand at 56,026 mt in May, up 5% MoM and 2% YoY.
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