KB Recycling Signs Black Mass Offtake MoU with BatX Energies

[SMM Daily Commentary: Spot Lithium Carbonate Price Continues Rising on August 10] Today, the SMM battery-grade lithium carbonate spot price continued to climb from the previous working day. The lithium carbonate 2609 contract opened higher at 140,500 yuan/mt today, with bulls quickly stepping in after the opening and pushing the price rapidly above 144,000 yuan/mt. During the morning session, the price fluctuated on the strong side within the range of 144,000–146,000 yuan/mt, with the center holding high despite some pullbacks. Around midday, the price pulled back slightly to near 143,500 yuan/mt and consolidated. In the afternoon, bulls exerted strength again, sending the price climbing amid consolidation to an intraday high. It closed near 146,400 yuan/mt at the end of the session, ultimately ending up 2.87% at 146,400 yuan/mt, with open interest decreasing by 19,531 lots. In the spot market, supply side, lithium chemical plant maintenance was concentrated from July to August, with plants having maintenance plans prioritizing long-term contract shipments, leaving spot order shipments limited. Today, although some lithium chemical plants’ willingness to hold prices firm softened slightly, the shipment scale remained limited. Demand side, some downstream companies shifted to spot order restocking due to reduced long-term contract volumes, with purchases below 140,000 yuan/mt increasing significantly. However, as prices consolidated and rose today, downstream willingness to chase higher prices was insufficient, and purchases remained mainly based on rigid demand. Overall, inquiries were active but actual transactions were relatively sluggish.

[SMM Analysis: EV and ESS Demand Drives Steady Climb in July Anode Production] On August 10, SMM reported: According to SMM statistics, artificial graphite anode material production maintained steady growth in July, up 6% MoM and surging 70% YoY.

Zimbabwe's first lithium sulfate plant, built by China owned Prospect Lithium Zimbabwe (PLZ) at Goromonzi, became fully operational in May 2026, mines minister Polite Kambamura confirmed last week. The $400 million facility is Africa's first lithium sulfate plant. Carbonate unit nearing completion, per Kambamura; more sulfate capacity expected sector-wide ahead of the January 2027 concentrate export ban. Policy backdrop: Zimbabwe froze raw mineral exports in February 2026 ahead of the 2027 ban. President Mnangagwa reiterated the stance this week, citing zero tolerance for raw mineral exports going forward. Investment: Over $1 billion in lithium-sector investment logged since February 2026, per policy expert Tedious Ncube figure undisaggregated by project. Scope widens: 13 additional minerals (cobalt, PGMs, rare earths) join the export restriction from January 2027. Kambamura also flagged domestic battery/solar panel manufacturing as a longer-term goal, with no timeline attached. SMM View: Goromonzi's "fully operational" status (May 2026) is confirmed processing capacity log as verified, distinct from the carbonate unit (unconfirmed) and the $1bn investment figure (unverified, project-level breakdown pending).