Lithium: The market players on the lithium ore market were wait-and-see as the lithium carbonate price moves were unclear, and the smelters were slow in building stocks. The traders lifted their quotations, but the downstream reaction was quiet. The lithium ore prices are projected to move rangebound in the short period. For lithium carbonate, the spot prices kept rising, but the downstream players were wait-and-see and did not purchase in large amount. It is likely that the lithium carbonate prices will keep rangebound in the near term.
Nickel: The demand for nickel sulfate from integrated producers was low, and others mostly purchased on rigid demand after they finished building stocks by end-August. The market transactions were poor. The smelters still held the prices frim, but the downstream demand was unable to fuel a price hike, despite the traditional seasonal high in September and October. And falling nickel price recently is likely to keep weighing on nickel sulfate prices.
Cobalt: Currently the fundamentals of the cobalt chemicals market were little changed, and the mainstream producers sticked to the quotations last week. However, there was news that a top-tier precursor plant inquired with a bid of Yuan 27,500/t, and the sellers' response was silent. For cobalt chloride, the downstream players gradually built stocks in the face of moderate end-market demand. But the spot transactions were still lackluster. The quotations were mostly around Yuan 35,500/t as the sellers were free of inventory pressure amidst stable supply.
Battery scrap: The lithium-ion battery scrap prices edged up yesterday amidst robust lithium prices. The traders' quotations jumped as well, but the hydrometallurgical plants were cautious towards the price moves. The payables of NMC anc LCO black mass rose fractionally. It is likely that the prices will move rangebound in the short period with modest transactions.
Repurposing: The transactions on the repurposing market were modest. The downtream players gradually built stocks at present thanks to the traders sacrificing certain profits. Hence the transaction prices were below the market prices, but the impact on the spot market was insignificant.