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[2019.06.20 Cobalt Lithium New Energy Internal Morning meeting] the new energy industry has long been optimistic about the heat of investment in metal raw materials.
Jun 20,2019 10:29CST
The content below was translated by Tencent automatically for reference.

SMM, June 20 / PRNewswire-Asianet /-

Battery Terminal Market:

The Ministry of Industry and Information Technology recently announced the declaration of the 321 batch of "Road Motor vehicle production Enterprises and products notice," including 146 new energy passenger cars, 111 new energy special vehicles, and 29 new energy passenger vehicles. As the transition period for new energy subsidies will end next week, and affected by the recent policy environment, the declared number of passenger car models has dropped significantly; at the same time, 206 models carrying lithium iron phosphate batteries, accounting for 71% of all models declared, mainly rely on cost advantages, and the loading rate in special vehicles has been greatly increased.

News: on June 19, the Science and Technology Innovation Board Municipal Committee disclosed the announcement of the 5th Review Conference in 2019, which showed that Rongbai Technology became the first Science and Technology Innovation Board conference enterprise in the field of lithium batteries. Rongbai science and technology product structure is mainly high nickel ternary, the current main cooperation customers include Ningde era, BYD, LG chemistry, Tianjin Lishen, Yiwei lithium energy, Foeneng technology, Bike power and other domestic and foreign well-known large lithium battery manufacturers.

Upstream raw material price:

Cobalt: the electricity cobalt market performance is weak, the downstream buying prosperity is depressed, the manufacturer has no hope but to lower the quotation. Cobalt salt market is still pessimistic, although production cuts have occurred one after another, but demand contraction expectations, trading prices are still declining. Overseas, Pala will acquire 100 per cent of the issued and issued common shares of Cobalt 27 at a total consideration of C $10.01 billion, calculated at 100 per cent. Under the terms of the transaction, Cobalt 27 shareholders will receive C $5.75 per common share, including C $3.57 in cash plus C $2.18 for a newly listed company, known as Nickel 28 Capital Corp. SMM expects that the global cobalt and lithium raw materials are still in a state of persistent surplus from 2019 to 2021, but the heat of investment in metal raw materials inside and outside the industrial chain is still unabated, and it is optimistic about the new energy automobile industry for a long time. The injection of a large amount of investment will help the industrial chain to explore low-cost and high-quality resources, reduce the long-term cost-price curve, and promote the promotion and development of electric vehicles.

Lithium: battery-grade lithium carbonate prices are down. According to manufacturers, there have been fewer spot orders in the near future, and orders fell month-on-month in July. Battery grade lithium hydroxide is rare. At the end of the subsidy retrogression transition period, the production of high nickel ternary materials by ternary material manufacturers is reduced or delayed, and the upstream demand is weakened. We expect that next, lithium carbonate (battery grade, industrial grade) prices will begin to fall significantly, lithium hydroxide followed.

News:, Pilbara Minerals issued an announcement on June 17, updating the production and marketing data of its mine Pilgangoora, which mentioned that the production optimization of the Pilgangoora mine has been going on, with a production of 22375 dry tons of spodumene concentrate in May and a capacity utilization rate of 85 per cent in the first phase. Production is estimated at 20, 000 to 24, 000 dry tons in June, and an expected two-week shutdown is planned in late July, using this time to correct RCR defects, improve factory work and de-inventory. Recently, the price of spodumene concentrate in China has continued to fall, and the current price range is 600-640U SD / Mt, CFR (6%).


SMM Cobalt Lithium Research team

Hu Yan 021 51666809

Hong Lu 021 51666814

Ning Ziwei 021 51666780

Qin Jingjing 021 51666828

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