[SMM Analysis] This Week's Ternary Cathode Precursor Prices Rose, with Further Room for Increase Expected Next Week

This week, the prices of 5-series and 6-series consumer-grade ternary cathode precursors, as well as 8-series power-grade ternary cathode precursors, have all increased to varying degrees.

On the raw material cost side, the prices of nickel sulphate and manganese sulphate have risen, while the price of cobalt sulphate has remained unchanged. As a result, the prices of high-nickel-content products have seen a significant increase. Supply side, as this is not a peak procurement period, the spot market trading demand is relatively low, and precursor producers are mainly fulfilling long-term contracts. Currently, precursor producers have not yet fully completed the signing of long-term contracts, and buyers and sellers are still negotiating prices. Demand side, the production plans of ternary cathode material enterprises have decreased compared to December, and overall market demand appears relatively weak.

Regarding future price trends, from a cost perspective, based on the rising costs of nickel sulphate and manganese sulphate, their selling prices are expected to have room for further increases, while the price of cobalt sulphate may decline. Therefore, the prices of various models of ternary cathode precursors may rise to varying extents. Among them, high-nickel products, due to the higher proportion of nickel salts in their costs, are likely to see relatively larger price increases, while low-nickel products, with a relatively smaller proportion of nickel salts in their costs, are expected to see relatively smaller price increases.

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