수요와 공급 양측 소폭 개선, 음극 원료 코크스 시장 안정적 운영 유지 ［SMM 리튬 배터리 음극 원료 시장 주간 리뷰］

This week, the industry chain continued to show overall weakness and divergence. Refined cobalt was affected by the consumption off-season and summer break; mainstream smelters lowered quotes to 335,000 yuan/mt, and downstream users maintained only essential restocking. The buy-sell price spread for intermediate products widened, tenders continued to fail, and market trading nearly stalled. Cobalt sulphate, cobalt chloride, Co3O4 and cobalt powder all fell under pressure; low-priced material increased, and market prices gradually converged toward actual transaction and cost ranges, leaving the market still in a bottoming phase in the near term. Ternary cathode precursor prices slid as nickel and cobalt salts weakened; production schedules recovered at top-tier players, but small and mid-sized producers remained constrained by the off-season. Supported by the rebound in lithium chemicals, peak-season stockpiling and European auto sales, ternary cathode material prices edged up slightly, and August orders were steady to slightly higher. LCO demand recovery remained slow, and price cuts did not noticeably boost shipments. Industry side, Sinomine Resource Group's lithium sulfate project in Zimbabwe entered full-scale construction, Hithium secured a 421 MWh energy storage project in Australia, and cooperation in the charging industry continued to advance.

his week, the Chicago Summit clarified the industry timeline: oxide electrolytes will be prioritized for deployment within 2–3 years, while all‑solid‑state sulfide batteries will be delayed until 2028–2030. The Baihu Lake Laboratory achieved a breakthrough in boride‑based solid‑state batteries with 400 Wh/kg, wide temperature range, and low‑pressure operation, targeting low‑altitude economy and robotics applications.