October 28 SMM cobalt lithium new energy spot price: battery grade lithium carbonate reduced by 1000 yuan / ton

The Democratic Republic of the Congo's cobalt exports are gradually recovering, according to the country's mining report for the first half of 2026. The concentrated release of material should ease China's cobalt feedstock shortage and shift bargaining power toward buyers. With cobalt salt demand weak and smelter margins under pressure, additional arrivals will make it harder for sellers to hold firm, and price concessions will be needed to unlock transactions.

Korea’s ESS market moved closer to actual procurement expansion in August as policy support for renewable integration and grid stability became more concrete. Attention focused on the next ESS centralized contract market, distribution-grid projects, and stronger non-price criteria such as safety and supply capability. Actual demand growth will depend on final tender volumes, project execution and battery shipments.

[MIIT and eight other departments: China to join ranks of world's automotive powers by 2030] The Ministry of Industry and Information Technology (MIIT) and eight other departments have issued the 15th Five-Year Plan for the Development of the Intelligent Connected NEV Industry. The plan proposes that by 2030, China's advantages across the entire intelligent connected NEV industry chain will be further consolidated, enabling the country to join the ranks of the world's automotive powers. In the Chinese market, passenger NEVs and commercial NEVs are expected to account for 70% and 40% of total new vehicle sales in their respective segments, and vehicles with autonomous driving functions will achieve large-scale application.