SMM

This week, the price of ternary precursors has slightly decreased. Regarding cost, the prices of cobalt sulfate and nickel sulfate have been adjusted downwards during the week, which reducing the producing cost of ternary precursors. The declined sulfate price dragging down the price of ternary precursors. On the supply side, ternary precursor merchants have started producing according to the production plan for August, and the overall market supply situation is relatively stable. In terms of demand, the downstream maintained rigid demand for procurement, with long-term contracts dominating the market and fewer spot transactions. Both supply and demand sides are adopting a cautious attitude towards the market. Looking ahead, there may be a limited space for a decrease in cobalt sulfate prices, while the price for nickel sulfate may see a slight rebound due to the impact of refined nickel, and the price of ternary precursors is expected to remain weak and stable.