SK On And POSCO Sign Three-Year Lithium Supply Agreement

[SMM Daily Review: Spot Lithium Carbonate Prices Drifted Lower on July 28] SMM battery-grade lithium carbonate spot prices drifted lower from the previous working day. In the futures market, the lithium carbonate 2609 contract opened high at 146,600 yuan/mt today. After the opening, bulls briefly pushed prices, shooting the contract up to 147,700 yuan/mt, before encountering concentrated selling pressure from bears that triggered a rapid plunge. During the morning session, prices kept falling below the average price line (146,600 yuan/mt), hitting a low of 142,000 yuan/mt. Around midday, bulls and bears wrestled repeatedly within the 142,000–144,000 yuan range. In the afternoon, bulls lacked momentum for a rebound; after a brief rise, prices oscillated and pulled back again, then consolidated at lows near 143,500 yuan/mt toward the close. The contract finally closed down 1.75% at 143,500 yuan/mt, with open interest decreasing by 5,649 lots. In the spot market, as prices drifted lower, purchasing sentiment recovered among some downstream material plants that had been on the sidelines, with the sub-145,000 yuan/mt level acting as an anchor for rigid demand purchases. Upstream lithium chemical plants continued to hold prices firm. Overall, market inquiries and actual transactions were relatively active.

On July 27, Xinjiang Xihai New Energy New Materials Co., Ltd. announced a planned maintenance shutdown of its A-line lithium carbonate production line from July 28 to August 31, lasting 35 days, with production expected to resume on September 1. The overhaul involves repairs to core equipment such as rotary kilns and evaporators, as well as upgrades to feeding platforms and acid adjustment tanks. The shutdown is estimated to reduce output by about 2,000 tons. Existing orders will be delayed until after maintenance, while sales services remain operational.

Xinya Zhijie issued an unusual stock fluctuation notice. Its LiPF6 sales contributed only 1.44% of total 2025 revenue (about 9% in H1 2026), highlighting limited impact. The business faces industry policy, market cycle, and competitive risks, with uncertain future performance.