[2019.07.18 minutes of internal morning meeting of cobalt lithium new energy] cobalt salt price bottom high premium smelting products close to it

Published: Jul 18, 2019 11:08

Save

SMM July 18, 2010:

Battery Terminal Market:

Recently, the Ministry of Industry and Information Technology has released the sixth batch of recommended models for new energy vehicles in 2019. Because the recommended catalogue is dominated by bus models, lithium iron phosphate batteries account for as much as 79%. At present, lithium iron phosphate battery is still mainly used in bus and special vehicle market because of its low cost and large capacity. In the future, there will also be more room for demand growth in the low-speed passenger car and energy storage market.

Upstream raw material price:

Cobalt: the price of cobalt salt bottomed out this week. The opening rate of large leading factories has not yet recovered, and some traders are optimistic that there is limited room for decline in the future market. Manufacturers sell at a low price, and the price of cobalt salt metal is at the bottom of about 170000 yuan. Foreign media cobalt prices continue to decline slightly, within a reasonable range with domestic cobalt prices, in addition, due to the decline in the price of cobalt salt raw materials, cobalt prices also fell sharply on Thursday, in line with SMM's previous high premium smelting products close to low-cost cobalt salt expectations.

Lithium: battery-grade lithium carbonate demand is not good, the market mentality is bearish, manufacturers are not active to pick up goods. For some cathode materials large plants batch long unit price, battery-grade lithium carbonate has reached 6.8-69000 yuan / ton. The price of industrial grade lithium carbonate with main content more than 99.2% (which can be directly used in lithium manganate) is relatively strong, stable at 6.2-65000 yuan / ton, but for industrial grade lithium carbonate with high impurity content or main content less than 99.2%, the price is about 60 000 yuan / ton, and has a further downward trend. Lithium hydroxide, battery-grade lithium hydroxide procurement demand is light, upstream manufacturers have appeared in order to return funds as soon as possible low-price throwing behavior, it is known that the lowest market quotation is 76000 yuan / ton.

SMM Cobalt Lithium Research team

Hong Lu 021 51666814

Ning Ziwei 021 51666780

Qin Jingjing 021 51666828

Long press attention

Learn more about the highlights

Cobalt lithium internal morning meeting minutes price forecasts quotations production batteries

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 hours ago

Tianqi Lithium: Shehong Tianqi Plans to Subscribe to 79.2181 Million New SEVB Shares for 150 Million Yuan

[Tianqi Lithium: Shehong Tianqi Plans to Subscribe to 79.2181 Million New SEVB Shares for 150 Million Yuan] Tianqi Lithium announced that its wholly-owned subsidiary, Shehong Tianqi, plans to sign a Capital Increase Agreement with SEVB, Huizhou Sunwoda, Wang Mingwang, and Wang Wei, and to use 150 million yuan of its own funds to subscribe for 79.2181 million new shares of SEVB. Of this amount, 79.2181 million yuan will be credited to the registered capital, with the remainder credited to the capital reserve. This transaction does not constitute a related-party transaction or a major asset restructuring, and does not require submission to the board of directors or shareholders' meeting for approval. The funds for Shehong Tianqi come from its own funds, which will not have a material adverse impact on the company's financial condition and operating results for the current year. This is conducive to the company's cooperation with the downstream industry chain, provides new channels for business expansion, and aligns with the company's vertically integrated development strategy.

9 hours ago

Shenzhen Builds 1,227 Ultra-Fast Charging Stations, Each Over 480 kW Capacity, Citywide

Media reports on July 26 stated that Shenzhen has built a total of 1,227 ultra-fast charging stations with power above 480 kW, 48 ultra-fast charging and battery swapping stations for heavy-duty trucks, 120 flash charging stations for passenger vehicles and 15 integrated energy supply stations. The real-time adjustable load of virtual power plants exceeds 1.4 million kilowatts. Shenzhen is accelerating the development of a multi-scenario, multi-tiered and widely covered charging infrastructure system. It has been selected as one of China’s first pilot cities for large-scale vehicle-grid integration application. The city has established the country’s first integrated "solar power, energy storage, charging and discharging" network as well as a virtual power plant management platform, advancing its pioneering demonstration at an accelerated pace.

9 hours ago

11 hours ago

SMM Daily: Spot Lithium Carbonate Price Consolidates Higher on July 27

[SMM Daily Review: Spot Lithium Carbonate Price Consolidates Upward on July 27] Today, the SMM battery-grade lithium carbonate spot price consolidated upward compared with the previous working day. In the futures market, the lithium carbonate 2609 contract opened high at 145,800 yuan/mt today. After opening, bulls moved quickly, pushing the price to a high of 148,200 yuan/mt. It then encountered bearish selling pressure and pulled back in consolidation, fluctuating repeatedly below the average price line (146,000 yuan/mt) in the morning session, touching a low of 143,300 yuan/mt. Around midday, bulls and bears wrestled within the 143,300–146,000 yuan/mt range. In the afternoon, bulls re-entered, and the price quickly surged past resistance at the average price line, then consolidated higher. In late trading, bulls continued to push and ended near 147,200 yuan/mt, ultimately closing up 2.39% at 147,200 yuan/mt, with open interest declining by 585 lots. In the spot market, downstream procurement remained primarily just-in-time procurement, with transactions concentrated around 145,000 yuan/mt, as acceptance of higher prices was limited. Upstream lithium chemical plants remained steadfast in holding spot order prices firm, but were weighed down by downstream wait-and-see sentiment, and buyers and sellers continued to wrestle. Market inquiries and actual transactions maintained an overall stable trend.

11 hours ago