Lithium: The demand for lithium ore was muted with lithium smelters holding enough stocks, but the lithium ore sellers still held the prices firm, offering certain support to the spot prices. And the market transactions of spots were poor with players wrestling over the prices. It is expected that the lithium ore prices will remain under pressure. For lithium carbonate, the spot prices stabilized, and there were only a few bids and offers. The downstream players became cautious on pessimism. It is projected that the lithium carbonate prices will remain soft 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 cobalt sulfate market stalled at present, and the demand was lackluster, with few transactions heard. The precursor companies were not in a hurry to build stocks. For cobalt chloride, some producers stopped making quotations, and some became more willing to sell at low prices. The latest transaction prices were reported at Yuan 36,000/tonne or below, weighing on the sentiment of market players.
Battery scrap: The prices of battery scrap were stable yesterday, and the delivery was mostly with spot orders. The inquiries and transactions of NMC black mass improved recently, with the hydrometallurgical plants purchasing on rigid demand. The prices of LFP black mass showed signs of weakening.
Repurposing: The transactions on the repurposing market were lackluster yesterday. The traders slowed their purchasing in the face of high temperature triggering the safety concerns for battery cell storage. But some traders still stockpiled NMC battery cells retired from testing to sell in North China in the winter with high prices.