Costs of Lithium Carbonate Likely to Soar to 167,000 yuan/mt based on An Auction of Raw Materials in Australia

Today, SMM battery-grade lithium carbonate spot prices drifted lower compared with the previous working day. The lithium carbonate 2701 contract opened lower at 140,000 yuan/mt today. After the open, bulls briefly resisted, and the price shot up slightly to 140,400 yuan/mt. Subsequently, bearish pressure was released in a concentrated manner, and the price drifted lower, breaking below the average price line. Near midday, panic selling emerged, and the price accelerated its decline, hitting a low of 128,100 yuan/mt. In the afternoon, dip-buying entered at low levels, and the price gradually consolidated and rebounded, recovering part of the losses. Near the close, the price moved sideways around 135,000 yuan/mt, eventually closing down 4.99% at 134,800 yuan/mt, with open interest decreasing by 1,124 lots. In the spot market, as prices fell rapidly, downstream dip-buying and stockpiling willingness continued to strengthen. However, with upstream lithium chemical plants holding prices firm on spot orders and holding back from selling, the spot orders available in the market were limited. Overall, market inquiries were active, but actual transactions were relatively stable.

[Solid-State Battery: Nine Departments' 15th Five-Year Plan Incorporates Automotive Solid-State Batteries into Specialised Standards System, Accelerating Supply of Cutting-Edge Technology Standards] On 9 September 2026, the Ministry of Industry and Information Technology (MIIT) and eight other departments issued the 15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry (MIIT Joint Regulation Letter [2026] No. 305). In the task of "continuously improving the standards system," the Plan specifies the ongoing establishment and refinement of specialised standards systems for automotive chips, automotive software, automotive artificial intelligence, automotive solid-state batteries, and low-carbon development of automobiles. In the task of "accelerating the supply of cutting-edge cross-disciplinary standards," it further proposes accelerating the formulation of frontier technology standards for automotive artificial intelligence, cockpit-driving integration, solid-state batteries, distributed electric drive, fully active suspension, integrated driving units, and chassis fusion control. The Plan does not establish a separate special clause for the industrialisation of solid-state batteries; the relevant arrangements primarily focus on standards taking the lead, providing regulatory support for subsequent technological breakthroughs and large-scale application.

China's Ministry of Industry and Information Technology and eight other departments jointly issued the 15th Five-Year plan for intelligent connected NEVs. By 2030, NEV passenger cars and commercial vehicles are targeted to reach 70% and 40% of new vehicle sales in their segments, with autonomous driving at scale and average EV energy consumption around 11.5 kWh per 100 km. The plan outlines 17 key tasks across five areas, including coordinated mining and recycling of lithium, cobalt and nickel resources, standards for vehicle solid-state batteries, wider use of electric heavy-duty trucks in trunk logistics, and a carbon peak in the auto industry before 2030.