NDRC: Starting from 24:00 on May 21, China's Gasoline and Diesel Prices Rose by 75 Yuan and 70 Yuan per Mt, Respectively

In recent years, China's lithium battery industry, leveraging mature technology systems and well-established industry chain support, has long underpinned the rapid development of the new energy industry in China and even globally, serving as the mainstay of the current energy storage and power battery markets. To further optimize the battery industry structure and diversify new-type battery technology pathways, relevant new policies in China have recently clarified that battery consumption tax will be levied on lithium batteries in phases, while sodium-ion batteries will be exempt from the battery consumption tax from September 1 this year through the end of 2028, in order to further cultivate the sodium-ion battery industry, which is still in its early growth stage. The 2%–4% tax rate differential over 28 months creates a critical window of opportunity to accelerate the large-scale deployment and commercialization of sodium-ion batteries.

[Vehicle Inventory Alert Index for July 2026 Reaches 61.1%] The latest “Vehicle Inventory Alert Index Survey” released by the China Automobile Dealers Association shows that the Vehicle Inventory Alert Index (VIA) for automobile dealers in July 2026 was 61.1%, up 3.9 percentage points YoY and up 3.9 percentage points MoM. The VIA, issued by the China Automobile Dealers Association, reflects the inventory level, market demand and operational risk of automobile dealers across the country. The index uses the 50% mark as the threshold. The July reading remained above the 50 mark, indicating that inventory pressure on automobile dealers exceeded the industry alert level.

[SMM Daily Comment: Spot Lithium Carbonate Fell Steadily on Aug 3] The SMM spot price of battery-grade lithium carbonate fell steadily today from the previous working day. The lithium carbonate 2609 contract opened low at 137,500 yuan/mt today, then fluctuated lower and dipped quickly, hitting a low of 135,600 yuan/mt; subsequently, bulls stepped in to push prices to a choppy rebound, and the morning session saw fluctuations around the average price line; near midday, bulls concentrated their strength, prices quickly surged past 140,000 yuan/mt and shot up to 140,800 yuan/mt; in the afternoon, faced with bearish selling pressure and profit-taking, prices consolidated and pulled back, and near the close, moved sideways in the 138,800-139,000 yuan range, finally settling down 1.15% at 138,900 yuan/mt, with open interest decreasing by 3,474 lots. In the spot market, coinciding with the first working day of the month, downstream material plants gradually received long-term contract and customer-supplied shipments. Spot order purchases were cautious, only purchasing as needed when prices were relatively low; upstream lithium chemical plants continued to hold prices firm for spot sales, mainly relying on long-term contracts and additional contract volumes to ensure supply at the beginning of the month. Overall, market inquiries and actual transaction activity decreased.