[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

13 hours ago

[Vehicle Inventory Alert Index for July 2026 Reaches 61.1%]

[Vehicle Inventory Alert Index for July 2026 Reaches 61.1%] The latest “Vehicle Inventory Alert Index Survey” released by the China Automobile Dealers Association shows that the Vehicle Inventory Alert Index (VIA) for automobile dealers in July 2026 was 61.1%, up 3.9 percentage points YoY and up 3.9 percentage points MoM. The VIA, issued by the China Automobile Dealers Association, reflects the inventory level, market demand and operational risk of automobile dealers across the country. The index uses the 50% mark as the threshold. The July reading remained above the 50 mark, indicating that inventory pressure on automobile dealers exceeded the industry alert level.

13 hours ago

14 hours ago

SMM Daily Review: Spot Lithium Carbonate Fell Steadily on August 3

[SMM Daily Comment: Spot Lithium Carbonate Fell Steadily on Aug 3] The SMM spot price of battery-grade lithium carbonate fell steadily today from the previous working day. The lithium carbonate 2609 contract opened low at 137,500 yuan/mt today, then fluctuated lower and dipped quickly, hitting a low of 135,600 yuan/mt; subsequently, bulls stepped in to push prices to a choppy rebound, and the morning session saw fluctuations around the average price line; near midday, bulls concentrated their strength, prices quickly surged past 140,000 yuan/mt and shot up to 140,800 yuan/mt; in the afternoon, faced with bearish selling pressure and profit-taking, prices consolidated and pulled back, and near the close, moved sideways in the 138,800-139,000 yuan range, finally settling down 1.15% at 138,900 yuan/mt, with open interest decreasing by 3,474 lots. In the spot market, coinciding with the first working day of the month, downstream material plants gradually received long-term contract and customer-supplied shipments. Spot order purchases were cautious, only purchasing as needed when prices were relatively low; upstream lithium chemical plants continued to hold prices firm for spot sales, mainly relying on long-term contracts and additional contract volumes to ensure supply at the beginning of the month. Overall, market inquiries and actual transaction activity decreased.

14 hours ago

16 hours ago

[Automotive: FAW Jiefang, CATL, And Tgood Jointly Establish Jiefang Times]

Recently, the national headquarters project of Jiefang Times New Energy Technology Co., Ltd. was officially established in the Tianjin Port Free Trade Zone. As an innovative platform co-created by three industry giants—FAW Jiefang, CATL, and Tgood—for full-lifecycle services of new energy commercial vehicles, Jiefang Times will use Tianjin as its strategic hub to accelerate the deep transformation of the commercial vehicle industry toward green, electric, and intelligent development. Alongside the establishment of the headquarters, Jiefang Times' business expansion is also progressing rapidly. The company aims to achieve total assets exceeding 5 billion yuan and operating revenue reaching 1 billion yuan in 2026, serving as a key pillar for FAW Jiefang's new energy commercial vehicle leasing business.

16 hours ago