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[2020.04.09 Morning meeting Summary] overseas demand remains sluggish and competition in the domestic market is still fierce
Apr 9,2020 12:03CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

9 April:

Battery end Market:

The downstream market is gradually recovering, and the battery factories are still negotiating the latest orders. In the power market, end consumer demand has recovered slowly and is expected to gradually return to normal production at the end of April or early May. The market for new energy vehicles was badly damaged in the first half of the year, down a lot from the same period last year. It is expected that the strengthening of local subsidy policies in the second half of the year and the extension of the previous subsidy policy for two years will stimulate consumption of new energy vehicles and boost annual production. In the consumer market, the cancellation or delay of a large number of overseas orders for consumer terminal goods in April had a greater impact on digital battery factories. Apart from maintaining the status quo in the electric bicycle market, other battery factories reduced their orders by an average of half in April, resulting in fierce competition in the domestic market.

Upstream raw material prices:

Nickel: the price of nickel sulfate rebounded slightly as a result of the suspension of production by a nickel sulfate producer in North China and the possible reduction in the impact of the epidemic on overseas nickel intermediate raw materials. However, the rise in the price of electrolytic nickel is weak, and the rise in the price of nickel sulfate is not sustainable. The downstream orders of superimposed ternary materials fluctuate greatly, and the spot transactions of nickel sulfate are sporadic.

Cobalt: the market continues to pay attention to the epidemic situation in Africa, the raw material end is currently close to the cost price. Affected by the downstream downturn in Europe and the United States, the price of cobalt in foreign media continued to fall. Domestic major cobalt salt plant this week is still high prices, downstream is still depressed, expected prices are difficult to maintain, do not rule out a small number of cobalt salt plants sold at low prices may be.

Lithium: domestic power market demand remains weak, industry inventory pressure increases, prices are difficult to improve. Compared with electric carbon, the spot circulation in the industrial carbon market is less, and the price is relatively strong. With the recovery of upstream supply and the weakening of superimposed downstream demand, the shortage of spot circulation in the market is gradually alleviated; at the same time, due to the increasing difficulty of shipping in the electric carbon market, the downward pressure on the price increases, forcing part of the electric carbon production to give up the high price and transfer to the industrial carbon market, and the market supply and demand structure changes, and the prices of electric carbon and industrial carbon are now in a downward trend.

Cathode materials and precursors: the terminal demand weakens, and the prices of ternary precursors and ternary materials continue to decline. Due to the beginning of strong prices of raw materials upstream, the price of precursors has little room for decline, and is basically maintained near the cost line. Cobalt oxide, lithium cobalt oxide orders this week sporadic, prices still have a downward trend, due to limited demand, mainly to old customers. Lithium manganate enterprises affected by production cuts in overseas markets, orders fell sharply this month, considering the difficulties of upstream lithium carbonate and manganese prices, it is difficult to rely on lower prices, some manufacturers turned to power exchange systems to seek orders.

News:

1. [Ministry of Industry and Information Technology: new Energy vehicle Industry Development Plan (2021-2035) is about to be issued and implemented] on April 7, Wan Gang, vice chairman of the CPPCC National Committee, China Association for Science and Technology, and chairman of the Planning and Advisory Committee, presided over an advisory committee meeting on "New Energy vehicle Industry Development Plan (2021-2035)" in Beijing. Xin Guobin, vice minister of industry and information technology, attended the meeting and introduced the preparation of the Plan and the development of the new energy vehicle industry.

2. [Tesla Battery Day in April "or will push Maxwell dry electrode Technology] on April 8, former Maxwell executives who were heavily acquired by Tesla revealed exclusively that Tesla may host Maxwell's dry electrode technology on Tesla Battery Day in mid-April to increase energy density and mileage while reducing battery costs. The former executive also said it was "not a problem" for New Zeus, a multi-year partner of Maxwell, to continue supplying Tesla.

3. [Ministry of Industry and Information Technology: further relaxing the entry threshold for New Energy vehicle Enterprises and products] on 7 April, the Ministry of Industry and Information Technology issued a notice on the revision of the regulations on the Administration of access to New Energy vehicle Manufacturing Enterprises and products (draft for soliciting opinions). The revision of access management regulations will further reduce the entry threshold for new energy vehicle manufacturers and products.

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