China's November production of ternary cathode precursor was about 69,665 mt, down 5% MoM and 23% YoY. The January-November total reached 745,801 mt, down 4% YoY.
As year-end nears, listed ternary precursor producers are cutting inventory, aligning production with sales. To meet annual targets, some offered discounts to win consumer market orders. Overseas, November demand weakened, with expectations for lower precursor export volumes.
Domestic demand is stable yet varied among cathode factories. Some see rising end-projects boosting precursor orders, while others face falling demand due to stockpiling. Series 6's share is dropping as battery plants cut late November orders, sharply reducing mid-nickel precursor production for subcontracted firms.
Heading into December, ternary precursor firms are expected to tighten inventory control due to weakening demand, with likely major cuts in production plans. Overseas demand, already reduced earlier, should stay stable. Domestically, a notable drop in mid- and low-nickel precursor production is expected. China's December ternary cathode precursor output is estimated at 62,684 mt, down 10% MoM and 18% YoY.
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