SMM Daily Review: February 3 Spot Lithium Carbonate Prices Continued to Decline

According to reports, Glencore has agreed to purchase approximately 2,000 metric tons of cobalt in batches in 2026 from industry veteran Rami Weisfisch, with a total value of nearly $115 million at current prices. The material is mainly stored in Europe and North America and is expected to be shipped to the United States for inclusion in its strategic stockpiling program for critical minerals, aimed at reducing reliance on China in the supply and processing of key metals. The transaction is also seen as marking the conclusion of Weisfisch’s five-decade career in the cobalt industry.

Recently, an ultra-high specific energy lithium-rich manganese solid-liquid battery was successfully installed in a vehicle by Zhongqi Xinneng Battery Technology Co., Ltd., a subsidiary of FAW Group. This marks the industry's first installation of a lithium-rich manganese solid-liquid battery in a vehicle, achieving a significant breakthrough in battery energy density. The ultra-high specific energy lithium-rich manganese solid-liquid battery product installed in the vehicle was jointly developed by Zhongqi Xinneng and the academician team from Nankai University. The cell energy density exceeds 500Wh/kg, and the battery pack's energy capacity has increased by 67% year-on-year, reaching 142 kWh. After installation, the vehicle's driving range can exceed 1,000 kilometers.

[SMM Analysis] Pre-holiday lithium ore market stabilized with a wait-and-see sentiment; post-holiday supply-demand tug-of-war intertwines with macroeconomic factors.