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[SMM Analysis] Price Hikes and Sales Suspensions! A Glimpse at This Week's Ternary Cathode Material Market Trends
Mar 06, 2025, at 9:47 am
This week, the prices of 5, 6, and 8-series ternary cathode materials for both power and consumer applications rose significantly by 1,000 to 2,000 yuan due to DRC's restrictions on cobalt exports. Market sellers were clearly pushing up prices, and some cathode companies suspended their quotations, making it difficult for some downstream battery companies to place spot orders in the short term, leading to a short-term increase in production costs.
This week, the prices of 5, 6, and 8-series ternary cathode materials for both power and consumer applications increased by 1,000 to 2,000 yuan due to DRC's restrictions on cobalt exports. Market sellers showed a clear sentiment to stand firm on quotes, and some cathode companies stopped quoting, making it difficult for some downstream battery companies to place spot orders in the short term, leading to an increase in production costs.
Demand side, for March, most leading ternary cathode material companies saw their orders recover to January levels, while some mid-to-lower tier companies maintained the lower volumes from February, resulting in the industry's expected production schedule for March still being below January levels. In negotiations with downstream customers, some cathode companies were at a disadvantage and may face another year of losses in 2025, thus order signing has not been completed. With the rise in sulphate prices driving up procurement costs for precursors, many ternary cathode material companies are standing firm on quotes or refusing to sell, which is expected to continue pushing up the prices of ternary cathode materials in the coming period.
