[SMM Analysis] Ternary Cathode Precursor Prices Continued to Rise Significantly This Week, Growth Trend Likely to Persist Next Week

Mar 06, 2025, at 9:20 am

This week, the prices of 5-series, 6-series consumer, and 8-series power ternary cathode precursors all saw a significant and substantial increase.

This week, the prices of 5-series, 6-series consumer-grade, and 8-series power-type ternary cathode precursors all saw a significant increase. In terms of raw material costs, the prices of nickel sulphate and manganese sulphate continued to rise slightly, while the price of cobalt sulphate surged significantly due to the DRC's cobalt export ban. This change prompted varying degrees of price increases across different series of precursors. Demand side, cathode material manufacturers generally held sufficient finished product inventories to sustain this week's production, with no urgent need for purchasing. Some material plants, expecting further rises in raw material prices, may carry out limited stockpiling. In terms of supply, influenced by the substantial increase in raw material costs, precursor manufacturers showed a strong sentiment to stand firm on quotes, with coefficients quoted higher this week. They remain in a price negotiation phase with downstream material plants, and order signing was mediocre. Looking ahead to next week, given the sentiment to stand firm on quotes under cost losses and the expected continuous rise in raw material prices, the prices of precursors are expected to rise further. Purchase to view SMM spot metal historical prices

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