[Subaru and Panasonic Reach Battery Cooperation Agreement] According to foreign media reports, after months of negotiations regarding long-term supply cooperation for electric vehicle batteries, Subaru and Panasonic Energy have signed a so-called "basic cooperation agreement." The agreement involves Panasonic supplying cylindrical lithium-ion batteries for Subaru's future pure electric vehicles. The dialogue between the two parties began in July 2023, when Subaru was interested in Panasonic's latest high-capacity cylindrical batteries. It is reported that these batteries are likely to be the 4680 batteries (46 mm in diameter and 80 mm in height) or similar models....

【China's domestic power battery installation volume in February is 18GWh, CATL holds over 55% market share】Recently, the China Automotive Power Battery Industry Innovation Alliance (hereinafter referred to as "Battery Alliance") released the power battery monthly data for February of this year. According to the data, in February, China's power battery installation volume declined both year-over-year and month-over-month. From a corporate perspective, CATL's market share exceeded 55%, with BYD's share close to 18%. Specifically, in February, China's power battery installation volume was 18GWh, a year-over-year decrease of 18.1% and a month-over-month decrease of 44.4%. This is in line with the downward trend in the production and sales of new energy vehicles for the month.

On March 12th, lithium carbonate futures surged 4.13% to 119,850 yuan/ton, and spot prices rose to an average of 110,000 yuan/ton, amid market optimism and supply-demand adjustments.

From January 1, 2024, to December 31, 2024, individual consumers who scrap or transfer (excluding change of registration) a non-commercial passenger car registered under their name in Shanghai, and purchase a new pure electric passenger car from an automobile sales institution registered with the Shanghai Market Supervision Administration, for non-commercial use, can apply for a one-time subsidy of 10,000 yuan for the purchase of the car.

[India launches second round of critical mineral block bidding 18 critical mineral blocks involving tungsten, vanadium, cobalt and nickel will be auctioned] According to the Mining.com website, citing Reuters, Indian mining minister Pralhad Joshi revealed on Thursday that a second round of critical mineral block auctions worth 30 trillion rupees (about 362 billion US dollars) will be launched. According to the government announcement, 18 critical mineral blocks will be auctioned, involving minerals including tungsten, vanadium, cobalt and nickel, among others. Joshi added that there will be no more coal shortages in India this year.

In recent years, many cell makers have released 4C fast charging products for LFP batteries, which are used in the field of EV. This move will help quickly increase the market share of LFP batteries in the power sector, and also accelerate the penetration of EVs.

[National Bureau of Statistics: Solar cell production will increase by 54% in 2023] On February 29, the National Bureau of Statistics released the "Statistical Communiqué of the People's Republic of China on National Economic and Social Development in 2023", which disclosed a number of power data, including installed power capacity, energy consumption, etc. According to the data, in 2023, the output of solar cells (photovoltaic cells) will be 540 million kilowatts, an increase of 54.0%, and in 2023, the power generation of clean energy such as hydropower, nuclear power, wind power, and solar power will be 3,190.6 billion kilowatt hours, an increase of 7.8% over the previous year.

On February 28, the average price of SMM8-12% high nickel pig iron was 960 yuan/nickel point (ex-factory tax included), which was flat compared with the previous working day.

The battery industry faces a turbulent 2024 with price wars, cost reductions, and overcapacity. Despite challenges, innovations in technology and strategic shifts promise opportunities for growth.

【SMM Weekly Review: Market Slowly Recovers After Holiday, Anode Materials Remain Stable】SMM News on February 23: Anode material prices remained weak this week. On the cost side, petroleum coke prices were stable during the Spring Festival holiday with normal production and shipments based on orders. With insufficient downstream support after the holiday, the rising trend before the holiday has basically stalled, and there are risks of a small decline afterwards. The demand for oil-based needle coke...