Battery and downstream end market:The outbreak of the epidemic led to the shutdown of the car market in February, and the sharp decline of consumers and workers. Although the terminal car market has resumed work in the near future, the production and sales volume in February is expected to hit a record low. On February 20, the Ministry of Commerce said that it encouraged all regions to introduce measures to promote the consumption of new energy vehicles according to local conditions according to the changes in the situation. It is expected that in the next few months, all provinces and cities may introduce relevant policies to stimulate the demand for electric vehicles. This week, battery factories are still gradually resuming production, and the operating rate of large factories has basically reached 60%. Because some small and medium-sized battery factories have not yet started, the average operating rate of the industry is only 30% - 40%. With the recovery of logistics and the increase of the number of workers, it is expected that the downstream will gradually resume normal production in the first ten days of March, and the demand for raw materials in the upstream will recover synchronously.

Electrolytic cobalt and cobalt hydroxide:Electrolytic cobalt prices were flat this week. The price of cobalt in foreign media rose slightly, and the price difference between domestic and foreign electricity cobalt widened. In the early stage, affected by the reluctance of large upstream manufacturers to sell, the space for price rise caused by the supply side has been relatively limited, the end consumption has not improved, the market quotation has begun to decline, and there are few transactions. In terms of cobalt hydroxide, domestic logistics recovered this week, port inventories gradually arrived at the factory, and the overseas bullish trend is still on, but the downstream purchase willingness is low. The price of SMM electrolytic cobalt was 275-28000 yuan / ton, with the average price unchanged from last week. The price of SMM cobalt hydroxide is 9.6-10.4 US dollars / pound, with the average price unchanged from last week.

Cobalt and nickel salts:The price of cobalt chloride rose slightly this week, while the price of cobalt sulfate was flat. The import of raw materials and logistics problems have been basically solved this week. The construction in Hubei has not started yet, and the supply of cobalt salt has gradually eased, but the operation rate is still low. It is expected that the operation rate will gradually increase next week. Large cathode material manufacturers purchased cobalt chloride at a high price due to the implementation of long downstream orders. In addition, domestic cobalt salt transactions were sporadic this week, and the market quotation showed a downward trend. The price of SMM cobalt sulfate is 56000-59000 yuan / ton, with the average price unchanged from last week. The current price of SMM cobalt chloride is 67000-70000 yuan / ton, with an average price increase of 0500 yuan / ton compared with last week. The price of SMM battery grade nickel sulfate is 24500-25000 yuan / ton, with the average price unchanged from last week.

Cobalt tetroxide:Cobalt oxide prices were flat on Thursday. The terminal demand was relatively low this week, and the market transactions were sporadic. Downstream lithium cobalt manufacturers have less demand for goods, and the current market is stable. The current price of SMM Co3O4 is 205000-215000 yuan / ton, with the average price unchanged from last week.

Ternary precursor:The price of RMB precursor was flat on Wednesday. This week, the price of cobalt salt in the upper reaches tends to be stable, the supply and demand tends to be in balance, and the price of ternary precursor remains basically unchanged. The shortage of downstream raw material inventory basically recovered last week, and sporadic transactions were made this week. With the recovery of logistics and upstream supply, the raw material price may be reduced, and the precursor quotation may start the synchronous correction next week. The transaction price may return to rationality after the downstream procurement is started in mid and late March. The price of SMM ternary precursor (type 523) is 86000-89000 yuan / ton, with the average price unchanged from last week. The price of SMM ternary precursor (type 622) is 88000-92000 yuan / ton, with the average price unchanged from last week.

Lithium carbonate:Lithium carbonate prices rose slightly this week. This week, some enterprises in Jiangxi and Sichuan gradually resumed production, but the overall operating rate of lithium salt suffered a heavy blow in February. In the first half of the week, due to the low inventory of industrial lithium carbonate in some enterprises in Jiangxi and the rise of logistics costs, some lithium manganate downstream urgently used lithium salt until the transaction price increased slightly. With the recovery of production in the second half of the week and the gradual recovery of logistics outside Hubei Province, the problem of lithium salt delivery has been solved. At the same time, the current downstream operating rate remains low, the market inquiry increases but there are few transactions, and the downstream acceptance of lithium carbonate price increases decreases. The price of SMM battery grade lithium carbonate this week was 47500-50500 yuan / ton, with the average price unchanged from last week. The price of SMM industrial zero grade lithium carbonate this week was 37000-41000 yuan / ton, with an average price increase of 02500 yuan / ton compared with last week.

Lithium hydroxide:Lithium hydroxide prices were flat this week. At present, both upstream and downstream in China are bullish on the price of battery grade lithium hydroxide this year. The upstream has a slight sparing behavior in addition to fulfilling long orders, and the downstream actively negotiates with the seller considering the subsequent price trend. The price of SMM battery grade lithium hydroxide (coarse particles) this week was 52000-58000 yuan / ton, with the average price unchanged from last week.

Lithium cobaltate:Lithium cobaltate prices were flat this week. There are still few inquiries from downstream battery manufacturers, and the market remained stable this week. At present, the main orders are long orders, and new orders are sporadic. The price of smm4.35v lithium cobaltate is 205000-225000 yuan / ton, with the average price unchanged from last week.

Ternary material:The price of Yuan materials on Wednesday was flat compared with last week. On Wednesday, Yuan material enterprises had some order demand, but due to the low operating rate of downstream battery plants, weak market demand and strong terminal bargaining power, the price of Yuan material failed to rise as expected. At present, most material factories are still making orders before the year, and the logistics fee has declined this week, and the delivery has not been greatly affected. The price of SMM ternary material (type 523) is 127000-139000 yuan / ton, with the average price unchanged from last week. The price of SMM ternary material (type 622) is 145000-153000 yuan / ton, with the average price unchanged from last week.

Lithium iron phosphate:The price of lithium iron phosphate this week was flat compared with last week. At present, the operating rate of downstream battery plants is less than 50%, and there are no new orders for the time being. The local logistics of some iron lithium manufacturers in Jiangxi and Guizhou has not been fully restored, and the logistics fees have doubled. At present, only complete vehicle equipment can be used, so it is difficult to transport zero orders. Considering that the price of iron phosphate is currently at a high level, if the price is still not reduced in March, the price of iron lithium may rise slightly. This week, the price of SMM lithium iron phosphate (power type) was 39000-42500 yuan / ton, with the average price unchanged from last week.

Lithium manganate:The price of lithium manganate this week was flat compared with last week. Lithium salt prices rose slightly this week, but due to the slow resumption of downstream work, the pace of procurement has not been fully started, which has not yet been transmitted to the price of lithium manganate. There is less new demand from downstream battery plants, and orders are expected to be delayed by one month after the year. This week, the price of SMM lithium manganate (capacity type) was 22000-31000 yuan / ton, and the average price was flat compared with last week. The price of SMM lithium manganate (power type) this week was 34500-36500 yuan / ton, with the average price unchanged from last week.

Future forecast:Downstream demand is impacted by the epidemic, and there is no obvious willingness to purchase in the short term; With the recovery of production of upstream raw material enterprises and the smoothness of logistics, the short-term structural supply shortage has gradually eased, and the price of cobalt and lithium has returned to a rational range. The cobalt price showed signs of correction in the second half of the week. Although there were high quotations in the lithium price market, transactions were sporadic. Whether the transaction could be concluded still needs to observe the downstream rigid purchase quantity. Focus on the development trend of the epidemic in Japan and South Korea. If there is no significant improvement in the first quarter, it may affect the export demand of domestic materials and lithium salts.

Article source:Battery net