This week, ternary cathode material prices continued to decline. On the raw material cost side, nickel sulphate, cobalt sulphate, and manganese sulphate all dropped slightly, while lithium carbonate and lithium hydroxide prices remained under pressure without hitting bottom.
In the NEV market, end-user auto sales fell short of expectations, leading to sluggish demand for cathode materials and weak market sentiment. Except for some leading battery cell manufacturers reporting order growth, overall demand stayed sluggish.
In the consumer market, despite rising overseas demand, producers had stockpiled raw materials during the March-April price surge. Facing the current downtrend in raw material prices, the market turned bearish on cobalt salt and lithium chemicals, with widespread destocking operations and cautious sentiment prevailing.
Overall, the market expects a bearish June outlook, with potential supply-side contraction. Price-wise, lithium carbonate and cobalt sulphate still have further downside room, while ternary cathode material prices may continue declining due to upstream raw material fluctuations.
