[SMM Analysis] it will take time for overseas new energy vehicle plants to gradually resume production and recover terminal demand.

Published: May 10, 2020 23:16 (GMT+8)

SMM, 10 May:

LG Chemical won the first place with 27.1 per cent market share in the first quarter of 2020, beating the powerful Ningde era and Panasonic, according to a new report by SNE Research, a South Korean market research firm. LG's market share more than doubled from the same period in 2019 to second place Panasonic (25.7 per cent), while Ningde, the defending champion of the year, came in third with 17.4 per cent, down from 23.4 per cent in the same period in 2019, the report said.

According to SMM research, due to the impact of the epidemic, the operating rate of domestic battery enterprises was low in the first quarter, but since then, due to no obvious improvement in terminal demand, the operating rate of battery factories has not improved; in addition, the overseas epidemic began to spread in the middle and late March, leading battery enterprises export orders were affected, and the power battery market was still in a depressed state in the second quarter.

At present, among the battery enterprises, the demand of LG industry chain is relatively stable, mainly relying on the full production of Tesla Shanghai factory.

In addition, BYD has focused on promoting lithium iron phosphate batteries this year, and its Chongqing plant has been in full production, driving demand for some lithium iron phosphate materials.

In late March, nearly 20 overseas automakers, including Volkswagen, BMW, Toyota, Daimler, Fiat Chrysler, Peugeot Citroen, GM and Ford, have closed or plan to close more than 100 factories. According to relevant statistics, new energy plants, including Volkswagen, Audi, Porsche and Volvo, basically resumed work on April 20, while BMW's new energy plant in Leipzig, Germany, will resume work after May 18. At present, the epidemic has had an impact on the production of new energy vehicles for at least two months, and demand has to wait for the epidemic to be brought under control. European new energy vehicle sales data in April show that, with the exception of Germany, which still shows strong year-on-year growth, year-on-year sales in other countries have declined significantly, including countries severely affected by the epidemic, such as Spain and Italy, where new energy vehicles have dropped by more than 100% year-on-year.

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
European APT Offers Drop to $2,700-3,100/mtu Amid Weak Demand and Lower Scrap Prices
4 hours ago
European APT Offers Drop to $2,700-3,100/mtu Amid Weak Demand and Lower Scrap Prices
Read More
European APT Offers Drop to $2,700-3,100/mtu Amid Weak Demand and Lower Scrap Prices
European APT Offers Drop to $2,700-3,100/mtu Amid Weak Demand and Lower Scrap Prices
[SMM Tungsten Express] European APT offer ranges shifted down to $2,700-3,100/mtu this week, retreating from previous levels. Some offers were heard at $2,700-2,750/mtu, with more low-priced quotes emerging, though actual transactions remained thin with no new spot deals concluded. Smelter long-term contract prices held above $3,000/mtu, with existing output largely pre-sold and limited spot availability. Scrap and ore prices fell in tandem, with buyers leaning bearish and a strong wait-and-see atmosphere. Some traders noted that as long as China cannot export feedstock, no new low-priced spot material will emerge, keeping the market in a stalemate. Overall, the APT offer center moved slightly lower, with near-term prices facing downward pressure amid weak demand and softer scrap and ore prices.
4 hours ago
More than 6,500 Madagascar residents file QMM pollution claim
5 hours ago
More than 6,500 Madagascar residents file QMM pollution claim
Read More
More than 6,500 Madagascar residents file QMM pollution claim
More than 6,500 Madagascar residents file QMM pollution claim
[SMM Titanium Flash] More than 6,500 people in Madagascar have filed a claim in London’s High Court against Rio Tinto over alleged contamination linked to its QIT Madagascar Minerals (QMM) ilmenite operation, Reuters reported on 30 September. The claimants, represented by Leigh Day, allege wastewater exposed communities to lead and uranium and seek compensation and remedial orders. Rio Tinto said it had been notified but had not received the claim documents. It said its water monitoring found uranium samples below detection limits and most lead samples below detection limits. QMM produces ilmenite for the titanium dioxide supply chain. The case places water management and community relations at a major African mineral sands operation under renewed scrutiny. The allegations remain unproven, and the filing itself does not establish any change in QMM production.
5 hours ago
【Flash | Outokumpu Trims October Surcharges for Several Moly-Bearing Stainless Grades】
5 hours ago
【Flash | Outokumpu Trims October Surcharges for Several Moly-Bearing Stainless Grades】
Read More
【Flash | Outokumpu Trims October Surcharges for Several Moly-Bearing Stainless Grades】
【Flash | Outokumpu Trims October Surcharges for Several Moly-Bearing Stainless Grades】
Outokumpu’s October 2026 North American coil alloy surcharges edged lower across several molybdenum-bearing grades. The surcharge for 316L 2.5% Moly fell 0.5% MoM to $4,291.96/t, while 316L/4404 declined 0.7% to $3,886.31/t. Duplex 2205 was broadly flat at $4,225.83/t. Surcharges for 904L and 254 SMO fell 0.8% and 0.6% to $8,236.48/t and $8,914.62/t, respectively. These are alloy surcharges rather than full steel prices and reflect nickel, chromium and other alloy inputs as well as molybdenum.
5 hours ago