Ternary material price trend and supply/demand analysis in November

In November, the average price of 5 series ternary materials (polycrystalline/consumable) was 95,000 yuan/ton, that of 6 series ternary materials (single crystal/power type) was 121,000 yuan/ton, and that of 8 series ternary materials (polycrystalline/power type) was 141,000 yuan/ton. Prices have been falling since October. 

On the raw material side, in November, the price of  battery-grade nickel sulphate was reduced by RMB 980/tonne, cobalt sulphate by RMB 350/tonne, manganese sulphate by RMB 150/tonne, battery - grade lithium carbonate by RMB 4,500/tonne, and battery - grade lithium hydroxide (micropowder) by RMB 1,240/tonne. In November, the price of metal sulfate generally showed a downward trend, but the prices of lithium salt was greatly affected by the downstream demand and the price sentiment supported by salt plants. Degree of rebound, in which lithium carbonate has a large rebound. In terms of transmission to ternary materials, the cost of raw material is supported to some extent, so the decline in material price in November slowed down. On the supply side, at the end of the year, the dispatching output of the material factory exceeded expectations, the overall output maintained a growth trend, and the operating rate increased. On the demand side, affected by the installed capacity at the end of the year, the growth of downstream core output led to the rebound of material demand, which is expected to last until December.