Amid intensifying global competition in the new energy sector, Toyota Tsusho Corporation has announced the acquisition of a 25% stake in LG-HY BCM Co., Ltd., marking a pivotal move in securing its position within the electric vehicle (EV) battery supply chain. This investment reflects Japan’s accelerating push into core materials and underscores the growing importance of upstream resource control and regional supply chain security.

The separator market maintained stable supply and demand, with prices remaining steady.

Cobalt chloride prices continued to rise, with strong bullish sentiment in the market.

Price Divergence of Co3O4 Remains Significant, Inventory Depletion Fuels Bullish Expectations

[LCO Prices Rose Steadily, Supported by Downstream Stocking Demand]

This week, the spot price of refined cobalt maintained a fluctuating trend. Supply side, smelters continued long-term contract supply, while traders quoted prices following futures. Some producers slightly lowered offers to facilitate transactions. Demand side, although the summer break ended, the market showed no significant improvement. Downstream producers still made just-in-time procurement, resulting in sluggish actual transactions. In the future, raw material shortages may drive up prices of cobalt intermediate products and cobalt salts, potentially leading refined cobalt to follow suit. However, high inventory levels and relatively weak demand could restrain price increases. It remains crucial to monitor when refined cobalt prices start reflecting those of cobalt salts.

On August 31, 2025, Anhui Future Era's annual 10GWh semi-solid-state battery project commenced construction in Jinzhai, with a total investment of 2 billion yuan. The products will primarily be applied in small power, ESS, and low-altitude economy sectors.

On August 29, 2025, at the Chengdu International Auto Show, SAIC MG's all-new MG4 "Semi-Solid-State Safety Edition" debuted with a shocking limited-time subsidized price of 99,800 yuan, becoming the world's first mass-produced car model to bring semi-solid-state battery technology below the 100,000-yuan threshold.