Raw material side, spot lithium carbonate prices began to rise this week, while cobalt sulphate and nickel sulphate prices remained temporarily stable.

This week, ternary cathode precursor prices rose somewhat. Today, nickel sulphate prices edged down slightly, cobalt sulphate prices held steady, and manganese sulphate prices increased slightly. Discounts, for April and Q2 orders, some producers were willing to raise discounts due to large fluctuations in raw material prices. Long-term contracts, some producers recently finalized long-term contracts; some producers saw slight increases in nickel and cobalt discounts, while some producers may still have some room for negotiation on processing fees. However, as downstream demand for high-priced raw materials remained weak, upside room is expected to be limited. Spot orders, the Ni-Co-Mn coefficient for March spot orders had already moved higher, and with current downstream procurement sentiment weak, further upside room is expected to be limited. Production, as China entered the off-season for demand this month, some enterprises saw their production schedules pull back. The export tax rebate deadline had passed, and production intensity at some enterprises related to the rush to export also declined. Looking ahead, cost support for sulphates remained relatively strong, but downstream acceptance of prices will depend on Q2 downstream demand.

SMM March 31 News: Raw material side, lithium carbonate prices fluctuated this week, cobalt sulphate prices dropped slightly, and nickel sulphate prices were temporarily stable.

Raw material side, this week lithium carbonate and nickel sulphate prices fluctuated, while cobalt sulphate prices began to drop slightly after remaining stable for an extended period.

SMM Feburary 16 News: Raw material side, this week lithium carbonate prices began to rise continuously, while cobalt sulphate and nickel sulphate prices remained stable.

SMM Feburary 26 News: This week, nickel sulphate and cobalt sulphate prices were basically flat, while lithium carbonate prices fell before rising again.

Raw material side, lithium carbonate and nickel sulphate prices continued to rise this week, while cobalt sulphate prices remained stable.

This week, the second-life application market operated steadily overall, with prices remaining stable. Cost side, influenced by the recovery in market sentiment after the holiday, spot lithium carbonate prices have been climbing continuously since the Chinese New Year holiday, showing a sharp upward trend, which has imposed certain cost pressures on second-life battery cells. Meanwhile, prices for nickel and cobalt salts remained stable, causing no additional disturbances to the cost side. Currently, both supply and demand are in a transitional phase just after the Chinese New Year holiday, with overall market activity relatively low. Supply side, most enterprises have not yet fully resumed full-capacity operations, and the willingness to sell remains relatively weak, leading to generally tight availability of spot cargo in the market. Demand side, directly impacted by the current high fluctuations in lithium chemical prices, downstream enterprises have generally adopted a cautious purchasing mindset, with a strong wait-and-see sentiment prevailing. Additionally, most enterprises in the market still hold a certain amount of inventory, sufficient to support daily production and operational needs, which is expected to last until around the Lantern Festival.

Although March traditionally marks a demand recovery period and represents the final deadline for "export rush" orders ahead of policy changes, leading to a significant MoM increase compared to February, the magnitude of this recovery is expected to be more limited than pre-holiday forecasts suggested.

South Korean company Cosmo Chemical announced on the 23rd that it has signed a memorandum of understanding (MOU) with a producer located in Indonesia—affiliated with a Chinese group that holds the world’s largest market share in ternary precursor materials—to establish a long-term supply partnership for battery-grade nickel sulfate and cobalt sulfate. Under the agreement, from this year through 2030 the two parties will cooperate on the stable procurement and supply of battery-grade nickel and cobalt sulfate, with planned annual deliveries of approximately 2,000 tons. Based on current market prices, the total value could reach up to KRW 200 billion.