SMM survey: Some Lithium Salt Plants Began Mid-Year Maintenance, Major Refined Cobalt Plants Lowered Ex-Factory Prices

SHANGHAI, Jul 7 (SMM) -

Lithium

The prices of lithium carbonate stabilised this week. There are still some lithium carbonate smelters undergoing maintenance this month. Lithium carbonate smelters held back cargoes due to optimism over demand recovery.   Downstream inquiries have improved. In June, the car delivery of domestic and overseas electric car start-ups continued to improve, boosting LFP demand. However, due to the relatively weak performance of electronics market, the overall price failed to go up. 

The lithium hydroxide market transaction was sluggish. Demand from 8-series high-nickel NMC battery material plants recovered somewhat, but destocking remained the priority. Production of battery-grade lithium hydroxide was stable, and its prices may rise slightly after the NMC market recovers.

Cobalt

The price of refined cobalt fell slightly this week. Major refined cobalt plants lowered their ex-factory prices due to recent decline in overseas cobalt metal prices and poor demand from alloy sector. 

This week, the price of cobalt sulphate also fell slightly due to arrivals of imported raw materials and weak demand from large precursor plants. Tricobalt tetraoxide was offered between 265,000-270,000 yuan/mt this week. There was a large backlog of tricobalt tetraoxide inventory amid poor demand. Some tricobalt tetraoxide plants reduced or even stopped production against falling prices. LCO plants continued to stand on the sidelines.