Lithium ore:
The lithium ore market was in the doldrums this week, with ore-side quotes tracking the lower price center of lithium carbonate, and transactions remained primarily need-based. On the supply side, inventory pressure from the earlier concentrated arrivals of ex-China lithium ore eased somewhat, with domestic port and trade-chain inventories undergoing a phase of destocking and available spot cargoes shrinking accordingly, though overall circulating inventory remained at a relatively high level and had yet to create a notably tight spot supply situation. Meanwhile, expectations of production resumptions at some Australian mines and recovering African resource supply persisted, keeping the market cautious about subsequent ore-side supply growth. On the demand side, while high operating rates at domestic lithium chemical plants continued to underpin raw material consumption, persistently pressured lithium carbonate prices limited improvement in processing margins for lithium chemical plants using externally purchased ore, and enterprises still purchased mainly on a restocking-as-needed basis, with relatively limited acceptance of high-priced ore sources. Notably, the recent ore-side inventory destocking did not significantly strengthen ore prices, reflecting that the inventory drawdown was more a phase of supply-demand adjustment and not enough to reverse expectations of ample forward supply. Overall, short-term lithium ore prices are expected to continue consolidating on a subdued note in tandem with lithium carbonate, with the ore-chemical margin tug-of-war persisting; key areas to watch include actual arrivals of ex-China resources, the sustainability of trader inventory destocking, and changes in raw material purchasing by lithium chemical plants.
Lithium carbonate:
In the spot market, at the start of the week, SMM were 90,400-94,600 yuan/mt,with an average price of 92,500 yuan/mt, down 1,100 yuan/mt from the previous trading day; the low-end quote for industrial-grade material was 87,100 yuan/mt, down 1,100 yuan/mt, as spot prices stopped rising and pulled back. Today, downstream spot order purchases were scattered, with many still adopting a wait-and-see stance on inquiries and limited buying interest, leaving transactions primarily need-based. On the supply side, domestic lithium carbonate production continued to increase this week, though the growth rate narrowed WoW. By raw material, spodumene-based output continued to rise this week as lithium ore arrivals persisted alongside the ramp-up of new production lines, but the increment narrowed slightly; lepidolite-based production edged down; weekly output from salt lake and residue-based lithium extraction slipped slightly; in the recycling segment, LFP grinding enterprises showed improved inquiry activity, but high cost pressure still constrained transactions, leaving overall market trading mediocre; ternary black mass transactions remained normal with no notable changes. black mass, affected by this week's enterprises that had previously suspended external purchases resumed buying, while sellers kept quotes at mainstream market levels with firm pricing intentions, though downstream acceptance was lukewarm. Overall, the earlier sustained production cuts in the recycling segment have stabilized, but some enterprises under maintenance have yet to resume production. Demand side, based on market transactions and inventory conditions, upstream lithium chemical plants still mainly shipped under long-term contracts, but their willingness to sell spot orders improved compared with earlier periods. Downstream spot purchases remained primarily just-in-time procurement with limited trading volume. Cathode plants did not build much inventory and basically maintained supply security. Precursor production schedules fell notably in November. Weak demand from battery cell makers led enterprises to continue digesting prior inventory and delay restocking. All segments focused on proactive inventory control, driving synchronized destocking. This week, lithium carbonate inventory stood at 125,391 mt, down 2,994 mt WoW, with the destocking pace widening from the prior week. This week, futures opened lower and closed higher, rising 3.64% on Thursday to 91,580 yuan/mt. The average spot price was 91,700 yuan/mt, down 4.6% WoW, extending the downtrend, though the futures rebound helped repair market sentiment to some extent. Supply side, production continued to grow but the growth rate narrowed MoM. Sustained lithium ore arrivals combined with new production line ramp-up remained the main sources of growth. In the short term, the futures rebound and faster destocking have boosted market confidence to some extent, but demand has yet to show a clear recovery, and downstream players remain cautious in controlling inventory. are expected to trade in the range of 82,000-105,000 yuan/mt.
Lithium hydroxide:
At the start of the week, lithium hydroxide prices edged down WoW from the previous day. Current lithium market sentiment is relatively subdued, with prices continuing to consolidate. For lithium hydroxide, lithium chemical plants currently show moderate willingness to sell, while traders are actively selling. Quotes were basically lithium carbonate 2701 at a discount of 4,000-9,000 yuan/mt, with small volumes traded amid lithium price consolidation. Downstream demand is currently met by customer-supplied material plus long-term contracts, with psychological willingness prices basically below 84,000 yuan/mt. In the short term, the lithium hydroxide market is relatively sluggish, with prices operating at relatively low levels.
Refined cobalt:
At the start of this week, refined cobalt electronic trading prices continued to rise to 260,000 yuan/mt, and subsequently consolidated around that level. This week's rise was still driven by bullish news and capital flows, with no obvious improvement found in fundamentals. Demand side, downstream enterprises continued to make just-in-time procurement, with limited follow-through in transactions. Supply side, mainstream smelters raised their Ex-works prices to 270,000 yuan/mt, while other smelters generally maintained quotes at a slight premium to the basis. Worth noting is the change in supply pace—since October, refined cobalt production has recovered rapidly. According to the production resumption plans of some enterprises, output pressure will gradually emerge going forward. With the supply-demand pattern shifting back to inventory buildup, combined with enterprises purchasing low-priced cobalt salt for toll processing of refined cobalt and hedging on futures, the sustainability of this rebound still needs to be observed.
Intermediate products:
The cobalt intermediate product market saw little change overall this week. On the supply side, miners' pricing strategies were largely consistent with last week, with domestic miners maintaining target prices above $11-12/lb, while ex-China miners' indicative offers remained relatively high. On the demand side, smelters' purchase willingness showed no improvement. Based on cobalt salt prices at which downstream buyers can currently transact, downstream raw material purchase prices would still need to be around $10.5/lb to avoid losses in immediate production. The psychological price gap between buyers and sellers persisted, leading to the failure of two domestic intermediate product tenders last week. In the short term, intermediate product prices are likely to maintain a consolidation pattern, pending the resolution of the tug-of-war between sellers and buyers.
Cobalt salts (cobalt sulphate and cobalt chloride):
Cobalt sulphate market prices continued to recover upward this week. Driven by the sharp rise in refined cobalt prices, smelters' willingness to hold prices firm strengthened notably, with smelter offers returning to around 48,000-50,000 yuan/mt, and some enterprises even raising offers above 50,000 yuan. On the demand side, however, buyers did not follow suit. Downstream ternary cathode precursor and Co3O4 enterprises' target purchase prices remained concentrated around 40,000-41,000 yuan/mt. Most enterprises' acceptance levels did not improve despite the sentiment recovery, with only some traders and refined cobalt smelters able to accept low-priced cobalt sulphate around 44,000-45,000 yuan/mt for refined cobalt toll processing and hedging. With offers rising rapidly while downstream target prices remained largely unchanged, the gap between buyers and sellers did not truly narrow. Whether this round of price recovery can be sustained ultimately depends on whether downstream buyers are willing to take orders at the new prices.
Cobalt chloride offers shifted from stable to rising this week, but the price increases were clearly disconnected from actual transactions. At the start of the week, offers remained within the previous range, with downstream buyers generally viewing them as high and showing limited purchase willingness. Toward the weekend, renewed strength in refined cobalt futures drove an overall upward adjustment in cobalt salts, with mainstream quotations moving higher accordingly. Earlier low-priced cargoes largely exited the market, and producers adopted a firmer stance on pricing than before. However, demand-side response was limited: downstream buyers had largely completed earlier purchases, still held some inventory, and did not believe this rally was supported by fundamentals, with restocking broadly postponed until prices pull back. On the cost side, domestic intermediate product tenders were temporarily suspended, and miners' acceptance of lower offers declined, providing some support to cobalt salt prices. In the short term, the sustainability of higher offers depends on whether transactions can follow through. If downstream inventories continue to be drawn down to the point where restocking becomes necessary, prices may stabilize at new levels; otherwise, the follow-through rally will be difficult to sustain.
Cobalt salts (Co3O4):
Co3O4 offer prices shifted higher this week along with raw material costs, with market activity improving from the prior period. Supply side, producer quotes followed the rise in cobalt salt costs, with willingness to sell at low prices falling notably, and some enterprises were still finalising new quote levels. Demand side, inquiry frequency rose for a second consecutive period, buyers and sellers had entered substantive negotiations, and a few orders were close to being concluded. Downstream acceptance of the rapid price increase was limited, the procurement pace remained cautious, and some enterprises preferred to observe whether the raw material price uptrend could hold before deciding on procurement volumes. In the short term, Co3O4 prices are expected to remain firm in consolidation, and whether the price increase can be fully absorbed by transactions and whether downstream attitudes shift from wait-and-see to follow-through will be key to gauging further upside.
Nickel sulphate:
As of Thursday this week, SMM battery-grade nickel sulphate average prices pulled back.
From the demand side, downstream demand overall maintained expectations of reduction, with some enterprises already able to secure their main raw material supply through long-term contracts, leaving spot external purchase volumes relatively limited and price acceptance low; from the supply side, some upstream enterprises, affected by weakening downstream demand, had plans to lower operating rates and destock. In addition, nickel prices rebounded at one point this week, prompting some enterprises to hold prices firm, and low-priced spot cargo in the market was relatively scarcer than last week. Looking ahead, the market is expected to maintain a weak supply-demand pattern in the short term, with attention needed on the sustainability of the nickel price rebound and the extent of downstream destocking.
Inventory-wise, this week the upstream nickel salt smelter inventory index held at 7 days, the downstream precursor plant inventory index rose from 9.7 days to 12.7 days, and the integrated enterprise inventory index held at 9 days; in terms of buying and selling strength, this week the upstream nickel salt smelter Willingness to Sell Sentiment Factor held at 2.1, the downstream precursor plant procurement sentiment factor held at 2.0, and the integrated enterprise sentiment factor held at 2.1. (Historical data can be queried in the database.)
Ternary cathode precursor:
At the start of the week, ternary cathode precursor prices firmed slightly, and today nickel sulphate and cobalt salt prices both rose, while manganese sulphate prices held steady.
On discounts, for November and Q4 orders, precursor coefficients overall weakened due to the soft performance of nickel and cobalt salts. On long-term contracts, although some top-tier players still showed willingness to hold prices firm, downstream acceptance of quarterly coefficients was weak, and Q4 long-term contract coefficients are expected to remain in the doldrums. On spot orders, some producers faced weak downstream demand, while others sought customer-supplied nickel and cobalt salts, and November order coefficients are expected to edge lower as well.
On production, some producers saw operating rates pull back from next month due to export orders; some top-tier domestic producers also saw operating rates decline from Q3 highs because end-use demand fell short of expectations, dragging overall industry production schedules lower.
Looking ahead, sulphate prices have yet to show a notable rebound, and future new order prices will hinge on actual downstream demand in Q4.
Ternary cathode material:
At the start of this week, ternary cathode material prices continued to consolidate at lows. On the raw material side, driven by rising costs, nickel sulphate prices rebounded slightly, cobalt sulphate prices saw a more notable rebound, and lithium carbonate and lithium hydroxide prices pulled back slightly after rebounding last Friday, leaving ternary cathode material prices consolidating at lows overall. In November, orders in the ternary market showed no significant change, with demand remaining weak. In the EV market, sales of mid-to-high-end car models have been lacklustre in recent months. Although automakers have incentives to push volume at year-end, weak domestic demand makes it difficult for sales to outperform expectations. The ex-China EV market remained strong in November, but a seasonal pullback is expected in December. Policy changes such as export restrictions on China-EU hybrid vehicles and the reduction of auto export tax rebates have mainly driven LFP market orders, with minimal impact on ternary demand. In the consumer market, as raw material prices had been grinding lower earlier, downstream purchasing sentiment remained cautious, with demand still largely need-based. Cathode plants were also reluctant to hold excessive inventory, generally maintaining supply security.
LFP:
This week, LFP enterprise production remained generally stable, with weekly production edging up slightly WoW and little change in the market. Production schedules diverged among enterprises, with some increasing production slightly and others lowering their production plans, largely offsetting each other. On the demand side, the EV market remained relatively weak. In energy storage, although demand from some leading battery cell manufacturers pulled back slightly from earlier levels, overall market demand remained strong, providing solid support for the LFP market. On the inventory side, enterprise inventory increased slightly this week, partly due to slower delivery progress at some enterprises and partly due to appropriate inventory replenishment by enterprises that had destocked significantly earlier. In addition, as some new capacity came on stream, related enterprises also increased stockpiling moderately. Overall, supply and demand in the LFP market remained relatively balanced, with energy storage demand offsetting some of the weakness in the EV sector. Although enterprise inventory increased, it was mainly driven by normal turnover and phased replenishment, with no obvious inventory pressure for now.
Iron phosphate:
Iron phosphate prices have remained stable recently. Negotiations for new orders in November have gradually concluded, and transaction prices edged down slightly overall. Large enterprises kept their expected prices for November new orders unchanged MoM, but downstream cathode plants began to lower their target prices, with actual prices falling by a certain margin of around 100 yuan/mt. On the production side, profitability remains attractive and orders this month are still stable, so the iron phosphate industry overall maintains high production enthusiasm. However, as some new capacity comes on stream, total industry production will continue to increase. On the cost side, phosphoric acid prices continue to fall steadily, but ferrous iron, as the main iron source, has edged up recently. Demand side, some downstream LFP clients saw reduced orders in November, non-iron phosphate processes continued to gain volume, and the demand share of iron phosphate processes weakened somewhat.
LCO:
This week, China's LCO market remained in the doldrums. This week, cobalt tetroxide showed tentative rebounds, but support from actual transaction volumes still needs to be verified. Current prices are temporarily stable, and the market is waiting for recovery signals. Overall downstream demand remains weak.
Supply side, mainstream domestic LCO producers maintained conservative production schedules based on sales, and industry production pulled back from earlier levels, relying on supply contraction to offset demand pressure. Demand side showed no substantive improvement. Shipments from consumer terminals such as mobile phones, tablets, and portable energy storage were mediocre. New orders from downstream battery cell makers were limited, and battery cell enterprises maintained low inventory operations with slow procurement pace, only following just-in-time needs, with little willingness to stockpile proactively. The overall destocking process across the industry chain remained slow, and the supply-demand imbalance had not yet eased.
Although cobalt tetroxide halting losses and steadying provided weak cost support, sluggish terminals remained the dominant market driver, and LCO prices continued to drift lower. In the short term, if the cobalt tetroxide rebound cannot be sustained and consumer end shows no clear recovery signals, LCO still faces downside risks. A market turning point will need to wait for improved terminal shipments and the implementation of concentrated restocking by battery cell makers.
Anode:
Artificial graphite anode prices appeared stable on the surface, but market conditions became more complex compared with last week. This week, the high-level stalemate in raw material coke costs began to loosen. Battery cell manufacturers continued to push for lower prices, while delivery negotiations in the graphitisation segment added uncertainty to production scheduling. Anode producers' capacity utilization rates remained high, with full order books and smooth shipments, leaving prices in a bargaining state. Natural graphite remained at the other extreme, hovering near cost levels under high inventory pressure, with sluggish trading. Looking ahead, the pattern of artificial graphite being "hard to fall and hard to rise" is unlikely to break in the short term. Loosening coke prices have indeed weakened cost-side support against declines, but anode producers' own inventories are not high, and top-tier players still have moderate order visibility. Even if battery cell production schedules adjust in the short term, it is more likely to be structural differentiation, so artificial graphite prices should remain mainly stable in the near term. Natural graphite's low-level stalemate will continue, with no reversal catalyst visible in the short term.
Separator:
This week, separator prices were stable, with mainstream specification quotes flat WoW. According to data, 7μm+2μm wet-process coated separator quotes were 1.143-1.35 yuan/m², 9μm+3μm wet-process coated separator quotes were 1.14-1.3 yuan/m², 5μm+2μm remained at 1.57-1.87 yuan/m², and base film prices were unchanged. Market transactions were mainly execution of existing orders.
Recently, downstream battery cell enterprises lowered production schedules somewhat, and separator procurement pace slowed, with the previously tight supply-demand relationship easing slightly. Delivery pressure on separator producers eased, and the supply side was no longer in a state of full production rushing to fulfill orders. Looking to November, downstream production schedules are expected to decline 1%-2% MoM. If realized, separator demand will weaken accordingly.
In our assessment, the supply-demand relationship has weakened slightly, and prices are unlikely to rise in the short term. Going forward, attention should be paid to the duration and magnitude of the production schedule pullback. If year-end push for annual targets in December drives demand recovery, prices will still find support; if the pullback continues, there is potential for the price center to loosen.
The backdrop for this week's stable prices has changed. Previously, price support came mainly from tight supply-demand conditions, but recently downstream battery cell enterprises lowered production schedules, separator procurement pace slowed, and the previously tight supply-demand relationship eased to some extent. Delivery pressure on separator producers eased, inventories rebounded from low levels, and the supply side was no longer in a state of full production rushing to fulfill orders.
Electrolyte
This week, electrolyte market prices declined somewhat. Cost side, LiPF6 prices remained weak. Upstream lithium carbonate continued to pull back, weakening cost support for LiPF6. Downstream electrolyte enterprises held pessimistic expectations for LiPF6 going forward, shifted procurement to just-in-time needs, prioritized consuming earlier high-priced inventory, and showed low willingness to restock proactively, driving continued inventory accumulation at LiPF6 producers. To ease inventory pressure, LiPF6 producers' willingness to sell increased, and quotes continued to move lower. In the additive segment, the tight VC supply-demand situation eased significantly. On one hand, end-use demand growth fell short of expectations; on the other hand, new capacity was gradually released, with supply growth becoming evident. Coupled with VC prices previously at high levels, electrolyte enterprises slowed procurement pace for cost control considerations, prioritized digesting existing high-priced supply, and delayed restocking, pushing VC prices lower. Driven by simultaneous weakness in core raw materials such as LiPF6 and VC, electrolyte production costs shifted downward, and market prices were adjusted lower accordingly. Looking ahead, end-use battery cell demand is expected to remain weak, making it difficult to form effective pull on upstream raw materials. Major raw material prices are likely to remain in the doldrums, cost pressure will continue to transmit downward, and electrolyte prices still have downside.
Sodium-ion battery:
This week, the sodium-ion battery market continued its pattern of "volume growth with weak prices." Cathode-side capacity ramp-up still fell short of expectations, with orders accelerating concentration toward top-tier players. Top-tier enterprises already had orders on hand reaching the kt level, requiring both their own production lines and toll processing to guarantee supply. Mainstream NFPP transaction prices remained at 24,000-27,000 yuan/mt, with divergent quotes and continued stalemate. The cost pressure of iron phosphate at 16,000 yuan/mt remained unresolved. Hard carbon anode entered a critical commissioning window in October-November, with stockpiling willingness warming up. Electrolyte top-tier shipments hit new highs, but the entire chain was still dominated by scattered project-based orders, with prices declining along with formulations. Battery cell side, driven by the "1230" grid connection deadline, entered a concentrated delivery period. Mainstream ESS battery cell prices were around 0.55 yuan/Wh, with top-tier players operating at breakeven. November cathode and battery cell production is expected to increase 9% and 27% MoM respectively. The short-term focus remains on delivery realization under the energy storage volume push, while medium and long-term industry consolidation and concentration improvement are expected to accelerate.
Recycling:
Raw material side: This week, lithium carbonate prices overall moved sideways. As of November 9, lithium carbonate prices were around 92,000-93,000 yuan/mt. Nickel sulphate continued to grind lower during the week before rebounding slightly. Cobalt sulphate prices remained basically stable this week as downstream demand stayed at low levels, with a slight uptick on Monday.
By material type, LFP hydrometallurgy recycling side: From the beginning of this week, lithium carbonate prices drifted lower with small fluctuations, and LFP black mass prices were adjusted down slightly. On the 5th, lithium carbonate prices rebounded slightly, but as the market was not optimistic about the subsequent trend, the market had not yet accepted higher-priced LFP black mass. Overall prices were initially stable. Downstream hydrometallurgical players' acceptance of % lithium in LFP black mass remained lower than that of grinding plants. Overall transactions: Purchases were still mainly just-in-time procurement, with low market trading volume.
Ternary and LCO recycling side: Ternary payable indicators were basically stable this week, with cobalt payables pulling back slightly. Ternary battery black mass transactions for nickel, cobalt, and lithium payables had basically returned to parity. On the ternary side, affected by grinding plant costs and relatively stable salt-side prices recently, payables were unlikely to move lower further, but were also difficult to rise under pressure from demand across salt segments. For LCO black mass, cobalt and lithium payables recovered to above 60 overall due to recent increases in refined cobalt prices. However, as market participants held different views on future cobalt prices, some downstream enterprises purchased at payables above 65, while other downstream enterprises, concerned about future cobalt demand, did not rush to raise psychological price levels, with actual desired purchasing payables still maintained in the 60-64 range. The grinding side also showed polarization at this stage, with some taking the opportunity for inventory clearance and others holding back from selling to wait for higher prices. Actual market transaction prices remained in a bargaining stage. Overall transactions: Market wait-and-see sentiment was relatively strong, and overall market trading was sluggish.
Downstream and end-user:
On November 4, Longyuan Power under China Energy Group announced the recommended winning candidates for its 2026 ESS integrated equipment framework procurement. The total framework procurement scale was 1.2 GWh, comprising three sections: 500 MWh grid-following, 500 MWh grid-forming, and 200 MWh string type.
Winning candidate information:
Section 1 (500 MWh grid-following):
First-place winning candidate: CATL, bid price 320.092192 million yuan, equivalent to 0.64 yuan/Wh
Second-place winning candidate: Cospowers Technology, bid price 328.0776 million yuan, equivalent to 0.656 yuan/Wh
Section 2 (500 MWh grid-forming):
First-place winning candidate: Zhiguang Energy Storage, bid price 328 million yuan, equivalent to 0.656 yuan/Wh
Second-place winning candidate: HyperStrong, bid price 338.2 million yuan, equivalent to 0.676 yuan/Wh
Section 3 (200 MWh string type):
First-place winning candidate: Zhiguang Energy Storage, bid price 130.2775 million yuan, equivalent to 0.651 yuan/Wh
Second-place winning candidate: HyperStrong, bid price 132.46 million yuan, equivalent to 0.662 yuan/Wh
Brief comment: All bids across the three sections fell within the 0.640-0.676 yuan/Wh range, with an average price of about 0.657 yuan/Wh, significantly higher than the average price of about 0.52 yuan/Wh in CNNC's 2.98 GWh centralised procurement in mid-October. The main reasons were the high proportion of grid-forming sections and higher technical barriers. The highest grid-forming bid of 0.676 yuan/Wh carried a premium of about 5.6% over the lowest grid-following bid of 0.640 yuan/Wh. CATL won the grid-following section at the lowest price of 0.640 yuan/Wh, showing that top-tier producers' cost advantages remain significant.
News:
[Dare Auto: Solid-state battery production line in trial production and capacity ramp-up stage] Dare Auto disclosed in its investor relations activity record on November 9 that the company recently received a survey from institutions including Guolian Minsheng Securities. When discussing the current progress of its solid-state battery business, the company said that at the R&D level, it has established its own electrolyte material formulation system, which can comprehensively balance energy density, C-rate performance, and cycle life indicators according to different application scenarios. On the capacity side, the company signed a toll processing agreement with an external partner. Based on the partner's existing lithium battery production line, special modifications and equipment commissioning were implemented according to the company's solid-state battery production process requirements to undertake production of the company's solid-state battery products. The production line is currently in the trial production and capacity ramp-up stage. (Jin10 Data APP)
[Sichuan: Support private enterprises to participate in the development and utilization of strategic mineral resources such as lithium mines, phosphate ore, vanadium-titanium magnetite, and potash salt mines] Jin10 Data, November 6 - The Sichuan Provincial Development and Reform Commission issued the "Sichuan Province Work Measures for Promoting High-Quality Development of Private Investment." Among them, it proposed supporting private capital to participate in mineral resource development. Support private enterprises to participate in the development and utilization of strategic mineral resources such as lithium mines, phosphate ore, vanadium-titanium magnetite, and potash salt mines in the province. In the mining rights transfer process, support private enterprises to obtain mining rights through market-based methods in accordance with laws and regulations. Support private enterprises to cooperate with state-owned enterprises to jointly participate in market-based bidding for mining rights inside and outside the province, and deepen upstream and downstream industrial collaboration through equity transfers, cross-shareholding, and other methods. Encourage private enterprises to participate in strategic mineral geological surveys in accordance with laws and regulations, and provide rewards and incentives as stipulated after results are achieved and successfully transferred.
[Hainan Mining: The fourth batch of 24,500 mt of lithium concentrates from the Bougouni lithium mine arrived at Hainan Yangpu Port in late August] Recently, when investors asked whether the company's fourth batch of lithium ore had arrived at port, Hainan Mining responded that the fourth batch of 24,500 mt of lithium concentrates from the Bougouni lithium mine arrived at Hainan Yangpu Port in late August. As of September 30, cumulative arrivals of Bougouni lithium concentrates reached 93,300 mt. The above lithium concentrates will provide stable raw material supply for the capacity ramp-up of the company's lithium chemicals project.
Data source statement: Except for publicly available information, all other data are processed by SMM based on public information, market communication, and SMM's internal database models, and are for reference only and do not constitute decision-making advice.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Lin Ziya 86-2151666902
Feng Disheng 021-51666714
Lyu Yanlin 021-20707875
Zhou Zhicheng 021-51666711
Wang Zihan 021-51666914
Wang Jie 021-51595902
Zhang Haohan 021-51666752
Chen Bolin 021-51666836
Xu Mengqi 021-20707868
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