News

[SMM Cobalt & Lithium Morning Brief: Battery Material Prices Show Divergent Trends, End-user Procurement Remains Cautious] Lithium ore prices are in the doldrums but low-priced resources are limited, lithium carbonate spot and futures prices rebounded, and lithium hydroxide maintained a steady slight increase. Refined cobalt and cobalt salt are generally in the doldrums, impacted by off-season demand, sufficient inventory, and cautious procurement. Nickel sulphate cost support strengthened, ternary cathode precursor prices held steady, and ternary cathode material rebounded slightly, but actual cargo pick-up remained cautious. LFP prices declined along with raw material, while shipments continued to grow, supported by energy storage and commercial vehicle demand. Anode, separator, and electrolyte prices were generally stable, with expectations for some raw material cost transmission downstream. Sodium-ion battery material supply remained relatively tight, while the recycling market consolidated on a weak note due to fluctuations in lithium and cobalt raw material prices.

EcoPro BM announced on July 26 that it signed a memorandum of understanding (MOU) with Soulbrain and Aekyung Chemical at its headquarters, and launched the K-Sodium Alliance. Under the agreement, the three companies will jointly develop the optimal combination of key SIB materials, including cathode materials from EcoPro BM, electrolytes from Soulbrain, and hard carbon anode materials from Aekyung Chemical.

SMM Cobalt Morning Briefing: The cobalt industry chain was generally in the doldrums this week. Refined cobalt prices drifted lower, affected by import data exceeding expectations, the demand off-season, and downstream summer breaks. Sellers and buyers of cobalt intermediate products had a wide psychological price spread, making it difficult to advance transactions, and prices remained temporarily stable. Market inquiries and transactions for cobalt sulphate, cobalt chloride, and Co3O4 were sluggish, with downstream users mainly pushing for lower prices and making just-in-time procurement. Cobalt powder prices continued to hit bottom, while cobalt carbonate was also under pressure.

[SMM Analysis: Phosphate Ore Import and Export Half-Year Review, 2026 H1 China's Phosphate Ore Imports Surge to One Million Tons, Exports Triple] In H1 2026 (from January to June), China's phosphate ore imports reached 998,200 tons, up 29.66% YoY; exports stood at 133,900 tons, up 225.91% YoY; net imports were 864,300 tons.

[SMM Analysis: New Battery Consumption Tax Policy Takes Effect: Sodium-Ion Batteries Exempt, Lithium Batteries Taxed, Sodium-Ion Batteries Enter a "Tax Exemption Dividend Period"] SMM, July 21: The Ministry of Finance, the General Administration of Customs, and the State Taxation Administration recently jointly issued an announcement on the adjustment of the battery consumption tax policy. For the first time, lithium-ion batteries and similar products are included in the scope of consumption tax collection, while sodium-ion batteries, solid-state batteries, fuel cells, and others are listed in the exemption catalog. This "tax-and-exempt" design has garnered widespread attention across the sodium-ion battery industry chain...

[SMM Analysis: China's Phosphate Ore Imports Increased MoM in June; Egypt's Share Plunged as Substitute Supplies from Jordan, Morocco, etc. Surged] July 20, 2026, sourced from customs data. In June 2026, China's phosphate ore imports were 137,000 mt, edging up 4.5% MoM from 131,000 mt in May. Total import value was $12.567 million, up 2.8% MoM. The average import unit price was $91.5/mt, edging down 1.7% from $93.0/mt in May.

According to industry sources on July 16, LG Energy Solution is building a sodium-ion battery mother line at its Ochang Energy Plant. The company plans to begin proof-of-concept (PoC) work with global customers starting next year.

SMM Cobalt Morning Brief: This week, the cobalt industry chain overall consolidated on a subdued note. Refined cobalt spot prices remained stable temporarily. Traders resumed offering, but transactions were still dominated by essential stockpiling, while end-use demand had not yet clearly recovered. Cobalt intermediate products were boosted by news related to DRC. Miners' offers stayed firm, but downstream smelter acceptance was limited, and some traders lowered prices to sell and facilitate deals. Transactions in the cobalt sulphate, cobalt chloride, and Co3O4 markets remained sluggish. Downstream wait-and-see sentiment was strong, and restocking demand had not yet materialized. Cobalt powder prices continued to edge lower, and off-season pressure on hard alloys persisted. Overall, cobalt chain prices may mainly consolidate in the short term, and subsequent recovery will likely need to wait for a rebound in cobalt salt valuations and improvement in downstream demand.

Ronbay Technology expects net profit attributable to shareholders of RMB 1.0-1.2 billion for the first half of 2026, compared with a loss a year earlier. The company said earnings recovered on the back of stronger demand in the new energy sector. During the period, its ternary cathode business improved profitability with higher overseas shipments, while its LMFP cathode business reached full production and sales. Its sodium-ion cathode materials also entered the stage of large-scale commercial shipments.

In June, the sodium-ion battery industry chain saw broad-based improvements. The electrolyte and cell segments, which posted the most notable increases during this cycle, exhibited typical features of “volume growth amid persistent bottlenecks”—electrolyte capacity relied on conversion from lithium battery production, and core raw material shortages began to emerge, while the cell segment recorded nearly twofold YoY growth driven by dual boosts from energy storage and two-wheelers.

On July 3, news emerged that Samsung SDI plans to invest a total of 25 trillion Korean Won by 2040 to establish a presence in next-generation battery technologies. Among this, 16 trillion Korean Won (approximately 70.88 billion yuan) will be allocated to build production lines for all-solid-state batteries, as well as lithium iron phosphate batteries for energy storage and sodium batteries, in Ulsan, South Korea. Another 9 trillion Korean Won will be invested in the Cheonan factory, transforming it into a research, development, and manufacturing center for next-generation batteries. Samsung SDI aims to achieve the commercialization of solid-state batteries in South Korea by 2027. Samsung SDI has also finalized plans to establish a sodium-ion battery production line in Ulsan, a project previously in the feasibility assessment stage for mass production.

In June, the sodium-ion battery industry chain showed strong momentum. End-use demand continued to be released upstream, driving high growth for both cathode materials and hard carbon anodes, further tightening the supply-demand balance. SMM data shows that sodium-ion battery cathode production rose 22% MoM and hard carbon anode production rose 17% MoM, while the pace of supply expansion still struggled to match demand growth, with a clear seller's market.

[SMM Analysis: Sodium-ion Battery Market June Review (I): Cathode Undersupply and Anode Volume Release Resonate, Industry Chain Prosperity Continues to Rise] SMM, July 3: In June, the sodium-ion battery (hereinafter "sodium-ion battery") industry chain demonstrated strong momentum. Sustained release of end-use demand transmitted upstream, with both cathode materials and hard carbon anodes experiencing high growth, further intensifying the supply-demand tension. SMM data showed that sodium-ion battery cathode production rose 22% MoM and hard carbon anode production rose 17% MoM for the month, while the pace of supply-side capacity expansion still struggled to match demand growth, clearly indicating a seller's market...