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[SMM Review] Cobalt Lithium Holiday Review and Post-Festival Forecast:
Oct 7,2019 12:57CST
The content below was translated by Tencent automatically for reference.

SMM News: holiday cobalt outer plate twice quoted flat, a low cobalt rose slightly, from the disclosure of the trading log, alloy cobalt selling and trading are significantly less than standard cobalt, standard cobalt also still maintain the selling data redundant buying state. The increase in the outer plate is not exciting enough, and the domestic market is dominated by wait-and-see and consumer inventory in the short term after the festival. In the future, the probability of the outer market is flat or slightly higher.

SMM expects cobalt sulfate to continue to attach cobalt chloride to cobalt chloride during the holiday. Cobalt raw materials, the current smelter profit level is high, intermediate manufacturers offer strong, intermediate prices may continue to rise. Lithium, the current positive demand is relatively stable, lithium salt price downward space is limited, short-term attention to the willingness of manufacturers to ship, long-term price trend still need to pay attention to inventory consumption and demand growth.

Data: China's cobalt raw material imports totaled 9000 tons in August 2019, up 18.4 percent from the previous month, up 50 percent from the same period last year. From January to August 2019, China imported 52500 tons of cobalt raw materials, up 7 percent from the same period last year. Among the imported raw materials, cobalt ore imports 1119 metal tons (converted according to 8% grade), up 87% from the previous month, up 8% from the same period last year. China's cobalt ore imports from January to August 2019 totaled 4500 metal tons, down 46% from the same period last year. Imports of cobalt hydrometallurgical intermediates totaled 7600 metal tons (27 per cent grade), up 10 per cent from a month earlier, up 56 per cent from a year earlier, and China's imports of cobalt intermediates from January to August 2019 totaled 47000 metal tons, up 17.5 per cent from a year earlier. On the price side, the average import price of cobalt hydrometallurgical intermediates in July was US $19707 / ton, down 6 per cent from the previous month and 66 per cent from a year earlier.

Review of other key news

1. The 21 tons of metal cobalt involved in the Pan Asia case has been completed. After 143 rounds of bids, Shanghai Sanqian New Energy Materials Co., Ltd. successfully won all 21 tons of metal cobalt by bidding for 5906500 yuan.

two。 Recently, Dazhou, Xuanhan County and Shenzhen Zhengwei Group signed an investment agreement in Rong. Zhengwei Group will invest 55 billion yuan in cooperation with Dazhou to build a "national new energy and new material industrial base". Specifically, it will build six major projects, such as lithium and potassium resources comprehensive development and utilization industrial park, metal new material industrial park, new energy material industrial park, intelligent lithium park, new energy application manufacturing industrial park and Zhengwei state headquarters. Cooperation in the construction of "national new energy and new material industry base" is the largest private enterprise investment project signed by Dazhou so far. It is estimated that after the completion of the project in 2025, the output value will reach 164.4 billion yuan.

3.28, SAIC Ningde base project was officially completed and put into production, the first production model-plug-in hybrid eHS off the line. Yu Weiguo, secretary of the Fujian Provincial CPC Committee, Tang Dengjie, governor of Fujian Province, and Chen Hong, chairman of SAIC Group, attended the completion ceremony and jointly launched the base into production. Yu Weiguo expressed the hope that SAIC, Ningde Times New Energy and other enterprises will continue to play a leading role, help dock more high-quality supporting enterprises, and join hands to create a new highland for the new energy vehicle industry. Mutual benefit and win-win development in the construction of "electric Fujian".

4. Zhengzhou Municipal Bureau of Transportation issued the Circular on matters related to the use of New Energy vehicles by Taxi operators in Urban areas. As of October 1, 2019, Zhengzhou has stopped using fuel, gas and other types of vehicles, such as fuel and gas, and must use new energy pure electric vehicles advertised on the industry's official website, according to the notice.

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