SMM, 10 October:
Battery end Market:
On power batteries, leading battery companies still have no new production scheduling plans, lithium iron phosphate battery demand remains strong, ternary battery demand is still slightly weak, or improve by the end of October. According to industry customers, all car companies have plans to cut production targets, with each mainframe factory cutting 20, 000 to 50, 000 vehicles.
Upstream raw material prices:
Cobalt: SMM expects cobalt prices to fluctuate by 15% in October, with downward pressure in the first half of the month, and in the second half of the month, due to the proximity of monthly purchase orders and the signing of orders for the annual nickel and cobalt annual meeting, the supply side may send out more profitable news, and the possibility of rising is higher.
Lithium: the price of lithium carbonate is stable after the festival, but according to industry insiders, considering the weather, cost, inventory and other factors, some manufacturers in Qinghai and Jiangxi may adjust their prices in the near future. Downstream buyers are cautious about the price hike plan. After the festival lithium hydroxide transaction atmosphere is light, the large factory production and sales performance is strong, some small factories adjust the production strategy, reduce the supply. The price difference between battery grade lithium hydroxide (coarse particles) and battery grade lithium carbonate is narrowing, considering that the current domestic demand is still limited, the price has further pressure room, but as the price of lithium carbonate tends to stabilize, the current decline is slowing down.
SMM Cobalt Lithium Research team
Hong Lu 021-51666814
Qin Jingjing 021-51666828
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