Lithium: The lithium ore prices were soft on relatively sufficient supply and falling lithium carbonate prices. And the transaction prices dropped as well. It is likely that the lithium ore prices will remain rangebound in the near term. For lithium carbonate, both the spot and futures prices of lithium carbonate closed the day in the negative, but the bids and offers were moderate. Nevertheless, the cathode manufacturers continued to purchase on demand. It is projected that the lithium carbonate prices will stay on the downtrend in the near term.
Nickel: The market players stood on the sidelines recently when lithium price dropped from high, and the quotations of nickel sulfate were mostly around Yuan 27,500/tonne. The downstream demand was poor, and the transactions were between Yuan 26,500-27,000/tonne, and only the transactions with rigid demand were with slightly higher prices.
Cobalt: The cobalt intermediates prices inched down recently, leading to weakening cost support to cobalt sulfate. And the downstream demand remained poor at present. In this case, the smelters suffered losses and tried to raise the quotations when there lacked low-priced raw materials. But the transaction prices were still low. It is likely that the cobalt sulfate prices will fall slightly further in the short period.
Battery scrap: The absolute prices on the battery scrap market inched down yesterday due to falling prices of nickel sulfate and lithium carbonate. The hydrometallurgical plants turned bearish towards NMC black mass prices and lowered the bids. The market players were generally wait-and-see.