Lithium: The transactions on the lithium ore market were poor at the beginning of the week, with few bids/offers. Falling lithium prices recently aggravated the wait-and-see sentiment of the ore traders. It is expected that the ltihium ore prices will remain stable in the near term with most buyers sourcing lithium ore via long-term orders. For lithium carbonate, there were few bids/offers heard on the market, and the downstream players still purchased on dips. The spot transactions were muted. It is likely that the lithium carbonate prices are unlikely to gain momentum in the short period.
Nickel: The inquiries for nickel sulfate from downstream precursor companies were less active last week, and the spot transactions were restricted, especially after the precursor companies built stocks already at the beginning of July. Meanwhile, the nickel sulfate producers held the prices firm due to losses, but falling nickel prices failed to offer support. It is likely that the nickel sulfate prices will remain stable in the short period.
Cobalt: The market players showed different opinions over the cobalt sulfate demand. Some downstream players were unwilling to purchase high-end cobalt sulfate in the face of poor end-market demand and firm cost. But the producers held the prices firm due to lingering losses. But there were still some producers selling at low prices to improve the cash flow. For cobalt chloride, the transactions were on rigid demand for the lack of bullish news and lackluster end-market demand. The procurement of top-tier downstream players recently offered certain support. It is expected that the prices will stay soft in the near term.
Battery scrap: The transactions on the battery scrap market were muted yesterday. Some traders stopped trading as the prices showed no signs of improvement. The hydrometallurgical plants did not purchase either, with only a few purchasing on dips.
Repurposing: The transactions on the repurposing market were lackluster yesterday on poor demand. Some traders took holidays recently except for those with extensive network. The market is projected to stay silent in the near term.