Ternary cathode precursor prices dropped back slightly this week. Raw material side, nickel sulphate transaction prices recently pulled back, while cobalt sulphate and manganese sulphate prices remained stable, driving precursor prices slightly lower. However, overall discount coefficients have not yet seen significant changes.
Some producers have initiated preliminary negotiations on the commercial terms for next year's long-term contracts, but the final outcome is expected to take some time to become clear. Currently, spot order discounts vary significantly among different producers, with the overall level showing limited change WoW.
Demand side, demand in the EV market remained robust, with leading producers expected to maintain high operating rates until year-end. The small power and consumer markets performed actively, driven by the traditional peak season and rising raw material price expectations, with downstream still exhibiting some stockpiling demand. Although overall order performance was good, precursor producers still faced significant cost pressure. Overseas market demand was relatively mediocre recently.
