This week, ternary cathode precursor prices continued to decline slightly. Cost side, nickel sulphate transaction prices continued to pull back, while cobalt sulphate prices rose but trading remained sluggish, and manganese sulphate prices remained stable. In terms of discount coefficients, leading producers' long-term contracts largely maintained previous levels, and spot market discounts showed no significant change WoW. Recently, precursor producers are still negotiating next year's long-term contract terms, with specific results expected to take some time to become clear.
Demand side, as the traditional peak season ended, both power and consumer market demand pulled back, coupled with year-end inventory control by some producers, overall production schedules showed a downward trend. From a product structure perspective, although demand for 6-series precursors retreated from previous levels, it remained at a relatively high level; meanwhile, 8-series precursor orders narrowed due to contraction in overseas markets. Overall, precursor prices are expected to lack upward momentum next week, and back-and-forth negotiations between upstream and downstream will likely continue.
