Global cathode and precursor short-term outlook July 2022

As we entered the second half of 2022, prices for nickel, cobalt, and manganese sulphates continued their downward trend all of which expect to see conitnue to fall through Q3. However, lithium remains the only commodity that refused to follow the trend, with spot prices for both battery-grade lithium hydroxide and carbonate moving less than 1% month-on-month in July. Electric vehicle sales hit another all-time record this month, supporting demand momentum that has been picking up since the lifting of covid-related restrictions in China. Despite many fears of global economy slowdown, rising inflation, and remaining uncertainty of developing war in Ukraine, we expect the automotive industry to continue its growth, providing a strong, upward demand trajectory for the whole industry.