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 dropped further, and the bids and offers became more active. But the market players were bearish as a whole. The downstream players purchased on demand. 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 edged down yesterday on falling prices of nickel sulfate and lithium carbonate. The payables stabilized at the moment. For LFP black mass, the prices were as low as Yuan 3,300/mtu, and the hydrometallurgical plants slowed the purchasing and maintained low capacity utilization rates. It is projected that the battery scrap prices will remain soft in the short period.
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. And some traders sold at a loss.