[SMM Analysis] The recent market transaction sentiment for ternary cathodes is relatively sluggish.

Published: Jul 9, 2026 16:33

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This week, prices of ternary cathode materials declined. From the raw material side, nickel sulphate and cobalt sulphate prices continued to edge down, while lithium carbonate and lithium hydroxide prices saw a notable drop this week, dragging ternary cathode material prices lower.

In terms of transactions, market activity remained sluggish recently, mainly because early-month contract execution is still underway. Although raw material prices fell, battery cell manufacturers held ample inventory and had no urgent procurement needs. While EV market demand remained at a historically high level, there was no room for further growth in the short term; the consumer market remained in its traditional off-season, with overall performance relatively stable.

Regarding discounts, there were no significant changes in the EV and consumer markets recently. As absolute prices of nickel sulphate and cobalt sulphate declined, precursor plants held firm on discounts, but cathode plants still showed limited acceptance of discount raises.

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