China’s new-energy vehicle output to reach 1 million units in 2018, gov official says

The industry chain remained weak overall this week, with price centers generally moving lower. Upstream, reports of low-price raw material transactions increased, and the market stalemate showed signs of easing. Midstream, cost support for salts continued to weaken, and some enterprises, affected by funding and inventory pressure, proactively cut prices to sell, further dragging down market sentiment. Downstream, demand recovery fell significantly short of expectations, with orders for ternary cathode precursors, ternary cathode materials, and LCO all revised downward to varying degrees. Enterprises generally maintained cautious purchasing and destocking strategies, and September production schedules were broadly under pressure. Meanwhile, overseas orders for high-nickel materials remained at a relatively high level, serving as one of the few supportive factors. On the end-user side, NEV production and sales in August continued to grow YoY, but peak-season stockpiling had yet to clearly transmit to the materials segment. In the short term, under the combined effects of falling costs, elevated inventory, and weak demand, most products still lack clear momentum for stabilization, and prices are expected to remain in the doldrums. Going forward, attention should focus on Q4 order improvements, the pace of end-user stockpiling, and the release of low-priced supply.

Teck Resources reported Q2FY2026 molybdenum production of 840 tonnes at Quebrada Blanca, up about 95% from 430 tonnes a year earlier and 31% from 640 tonnes in Q1FY2026. The company attributed the increase to another quarter of strong operational performance and process stability, indicating a marked rise in by-product molybdenum supply from the mine.

European governments are preparing to seek broader safeguard measures against surging imports, primarily from China, marking a further shift toward tighter trade protection as European industrial sectors face high energy costs and weak demand. The European Union currently has a safeguard regime covering ferro-alloys, while governments including France, Italy and Germany are now pushing for additional investigations covering chemicals and plastics. For the chromium market, the development could have implications beyond the products directly targeted by the new proposals. A more protectionist EU trade environment could alter stainless-steel import flows and procurement strategies, potentially affecting demand for ferrochrome and the competitiveness of overseas suppliers. With the EU already using trade safeguards for ferro-alloys, further expansion of trade-defense measures could increase uncertainty for global ferrochrome flows and premiums, particularly if protection increasingly extends across both upstream alloy inputs and downstream steel products.