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 yesterday, but the market players remained bearish, leading to poor market transactions. The market resources mostly flowed among the traders. It is projected that the lithium carbonate prices will stay 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: Falling overseas cobalt prices led to weakening cost support for cobalt sulfate, putting the downstream players on the sidelines. The quotations from mainstream producers dropped slightly, and the bids from downstream players hovered around Yuan 28,000/t. For cobalt chloride, some producers stopped making quotations, and some were more willing to sell at low prices. The latest market transactions were below Yuan 36,000/t, weighing on the confidence of market players.
Battery scrap: The prices of battery scrap stabilized yesterday, with few quotations heard on the market. The market players became increasingly wait-and-see, and the traders held the prices firm. Some hydrometallurgical plants had to purchase high-priced raw materials to maintain the production.
Repurposing: The transactions on the repurposing market were lackluster yesterday, with the market players staying cautious. The demand from two-wheel electric vehicles and swapping sectors remained weak. And the traders stayed bearish as a whole.