This week the cathode material market showed two major characteristics. One is that the demand for lithium iron phosphate has rebounded, and the order volume has increased significantly. However, due to the serious overcapacity in the iron lithium market, manufacturers are unwilling to raise prices in order to grab orders, and the transaction price remains unchanged. stable. Another feature is the increased industry concentration in the ternary materials market. The ternary orders of major manufacturers increased slightly from the previous month. Small and medium-sized enterprises are facing a lack of orders and are also facing financial difficulties. They are still competing for low-price shipments and are pursuing payment to ease the financial pressure.

Electrolytic cobalt: The quotations of foreign media electrolytic cobalt continue to decline, which slumps the confidence of the domestic market, and speculators get away from the market. The spot market has prices but no market, and demand is weak. Mainstream manufacturers insist on quotations, but to no avail, the transaction shrinks. The mainstream transactions in the market are dominated by small brands, and the price advantage has the upper hand, but it is also limited to just a small volume of transactions. The market price is dragged down. By the weekend, the price of SMM electrolytic cobalt was 475,000-512,000 yuan/ton, the average price fell from last week. 6,000 yuan/ton.

Cobalt salt and nickel salt: The price of cobalt salt is dropping again. The middle of the month is approaching and the demand for ternary and tetracobalt is still not improving. The smelters that stopped production in the early stage could not bear the losses caused by the long-term shutdown, and chose to maintain a low operating rate after resuming production. The trading situation this week was fair. To ensure shipments, major manufacturers no longer stalemate high prices and chose to sell at lower prices. The price of SMM cobalt sulfate was 9.6-101,000 yuan/ton, and the average price dropped by 3,000 yuan/ton from last week. The current price of SMM cobalt chloride is 11.4 – 116,000 yuan/ton, and the average price is 6,000 yuan/ton lower than last week. The price of SMM nickel sulfate is 26,500-28,500 yuan/ton, the average price is the same as last week.

Cobalt tetroxide: Cobalt trading was light this Thursday. Large factories mainly deliver long orders and export orders, and manufacturers try their best to control finished product inventory when the sales of zero orders are not ideal. The current price of SMM cobalt tetroxide is 355,000-365,000 yuan / ton, and the average price is 0.5 million yuan / ton lower than last week.

Cobalt oxide: The current cobalt price is declining, and the downstream cobalt oxide has a heavy wait-and-see mentality. A small and multiple purchase strategy is adopted. The actual transaction price has fallen as the price of electric cobalt has fallen. The current price of SMM cobalt oxide is 340-35 million yuan/ton, and the average price is 0.5 million yuan/ton lower than last week. Similar to the cobalt oxide market, the downstream alloy industry is in the off-season for production and consumption, and the demand for cobalt powder is also limited, and the actual transaction volume is shrinking. The price of SMM cobalt powder was 57.5 – 585,000 yuan/ton, and the average price was 15,000 yuan/ton lower than last week.

Ternary precursor (523-powered type): The meta-precursor transaction was not active this Wednesday, and the downstream price was heavier. Manufacturers lowered their quotations for the payment of shipments. The price of SMM ternary precursor (523-type) was 11.8- 120,000 yuan/ton, the average price fell by 2 million yuan/ton from last week. The price of SMM ternary precursor (type 622) was 124,000--126,000 yuan/ton, and the average price dropped by 2,000 yuan/ton from last week.

Lithium carbonate: The price of lithium carbonate continued to fall this week. The demand of downstream cathode material factories is stable, and signs of recovery are not yet obvious. The upstream lithium salt manufacturers are pessimistic and actively destocking shipments. The price of SMM battery-grade lithium carbonate is 94,000-101,000 yuan/ton, and the average price has dropped by 75,000 yuan/ton from last week.

Lithium hydroxide: Affected by lithium carbonate, the price of lithium hydroxide dropped slightly this week. The market has a good demand for lithium hydroxide. According to SMM, a high-nickel ternary workshop in a cathode material factory in Hunan has increased production and demand for battery-grade lithium hydroxide has increased. The price of SMM battery-grade lithium hydroxide is 1300-14.0 million yuan/ton, and the average price is 0.5 million yuan/ton lower than last week.

Lithium cobalt oxide: The lithium cobalt oxide market is still in the off-season, and the market demand is insufficient, and the transaction price is falling. The price of SMM4.35V lithium cobalt oxide was 385,000-395,000 yuan/ton, and the average price was 18,000 yuan/ton lower than last week.

Ternary materials (523 power type): The ternary materials market remains stable. Under the polarized market, orders from large manufacturers are sufficient and full production. Small and medium-sized manufacturers are fiercely competing, and some small and medium-sized manufacturers switch to other cathode material products. According to SMM's understanding, the market order situation may improve, but only for the leading manufacturers, the industry as a whole still has not shown a significant improvement. The price of SMM ternary material (Type 523) was 183-193 million yuan/ton, and the average price was 0.2 million yuan/ton lower than last week. The price of SMM ternary materials (type 622) was 203,000 to 213,000 yuan/ton, and the average price dropped by 2,000 yuan/ton from last week.

Lithium iron phosphate (power type): The market demand for lithium iron phosphate has improved significantly this week. After the implementation of the new subsidy policy, the battery demand for some low-speed vehicle special vehicles has shifted from three yuan to lithium iron phosphate. In addition, orders for passenger cars from major manufacturers have also started, and orders have increased. The price of SMM lithium iron phosphate (power type) is 6.50-70 million yuan/ton, the average price is the same as last week.

Lithium manganate: The lithium manganate market remained stable this week. The market demand for lithium manganate is mostly capacity type. Currently, it is the digital off-season, and the market demand is stable. This week, the price of SMM lithium manganate (capacity type) was 4.20-52,000 yuan/ton, the average price was the same as last week. The price of lithium manganate (power type) was 5.80-64,000 yuan/ton, the average price was the same as last week.

Outlook forecast: August market demand for ternary and lithium cobalt oxide is stable, and the supply side is also recovering. It is expected that there will be no supply and demand gap in the cobalt salt market in the short term, but some cathode material manufacturers are optimistic about hoarding cobalt salt in the future. Increase prices. SMM reminds that the long-term market price trend still needs to pay attention to the fundamentals.