April 4, Societe Generale Securities Metals and New Materials team released a non-ferrous weekly report, which pointed out that due to the continued tension in raw materials, spodumene prices rose, as the European market performance continued to exceed expectations, high nickel demand maintained high growth, lithium hydroxide has been in a tight supply situation, prices are expected to accelerate upward.
The following is the essence of the report:
New energy metals & small metals: the rapid growth of terminal demand supports the price of energy metals.
1 core point of view: Europe's new energy car market is hot in March, with a substantial increase in sales in many countries. France is + 302.7% year-on-year, month-on-month ratio + 68.5%; Sweden year-on-year + 125.1%, month-on-month ratio + 120.6%, downstream performance is good, energy metal demand is expected to continue to increase. In terms of lithium, raw materials continued to be tense, spodumene prices rose, as the European market performance continued to exceed expectations, high nickel demand maintained high growth, lithium hydroxide has been tight supply situation, prices are expected to accelerate upward.
(2) in terms of price, the market price is weak and the cobalt price fluctuates in a narrow range. The price of electrolytic cobalt this week is 34.1-371000 yuan / ton, the average price is the same as last week; the intermediate price of cobalt is 21.1USD / lb, the average price is 0.50 USD / lb lower than last week; the price of cobalt sulfate is 7.7-82000 yuan / ton, the average price is 4000 yuan / ton; the current price of cobalt chloride is 9-95000 yuan / ton, the average price is 5500 yuan / ton lower than last week.
The price of MB standard low range cobalt was $22.50 / lb, unchanged from last week. The coefficient index of cobalt hydroxide is 92.5% and 93.5%, which continues to remain at an all-time high. The trading volume of new orders in the market is not high, and the price of lithium hydroxide is on the rise. The price of battery-grade lithium carbonate is 8.7-91000 yuan / ton, the average price is 500 yuan / ton compared with last week, the average price of industrial-grade lithium carbonate is 8.2-86000 yuan / ton, the average price is the same as last week, and the price of battery-grade lithium hydroxide (coarse particles) is 7.5-78000 yuan / ton. the average price increased by 5500 yuan / ton compared with last week. The price of industrial grade lithium hydroxide is 7.2yuan / ton to 75000 yuan / ton, the average price is 5500 yuan / ton higher than last week.
On the demand side, the European new energy vehicle market was hot in March, with a substantial increase in sales in many countries. Among them, French new energy vehicles sold 29000, year-on-year + 302.7%, month-on-month 68.5%, permeability + 16.1%; Swedish new energy vehicle sales 17500, year-on-year + 125.1%, month-on-month + 120.6%, permeability + 37%; Italian new energy vehicle sales 15000, year-on-year + 1048.7%, month-on-month + 80.3%, permeability + 8.8%; Sales of new energy vehicles in Spain were 5833, year-on-year + 301.4%, month-on-month + 77.7%, permeability + 7.9%.
Key recommendations: Huayou Cobalt Industry, Luoyang Molybdenum Industry, Ganfeng Lithium Industry, Tianqi Lithium Industry, Hanrui Cobalt Industry, Zhenghai Magnetic Materials.
![Lithium Carbonate Market Weekly Review: 8.31-9.3 spot lithium carbonate prices rose first then fell, overall downward trend [SMM Weekly Review]](https://imgqn.smm.cn/usercenter/PPLUj20251217171727.jpg)
![[SMM Analyse hebdomadaire des séparateurs] La croissance de la production est restée inférieure à la demande finale, creusant l'écart entre l'offre et la demande](https://imgqn.smm.cn/usercenter/BmqWy20251217171726.jpg)
