SHANGHAI, Nov 1 (SMM) - A weekly update on the trending stories from the New Energy sector.
1. Pilbara, one of Australia’s largest spodumene concentrate producers, conducted the third round of auction on October 26 (CST), and the final auction price was set at a record high of $2,350/mt, up 5% from the second round of auction. The auction volume is 10,000 mt, with the grade of 5.2%-5.5%. Lithium carbonate costs will rise to 172,500 yuan/mt based on the current auction prices.
The price increases of lithium carbonate and lithium hydroxide have been restrained. After the prices of lithium salt and lithium ore broke through historical highs, the game between upstream and downstream sectors becomes more cautious. The increase of lithium salt prices slowed amid sharp decline in the output on power rationing and higher costs in September-October, cooling the estimate of price hike arising from this round of auction. The products sold in the three auctions are all 5.2-5.5% grades, while the ore currently used by domestic smelters are 5.5-6%. The 5.2% grade itself does not have an advantage in smelting; judging from the volume, each auction is only 10,000 mt, while the amount of spodumene concentrate imported by China in a month ranges from 130,000 to 230,000 mt. So the volume of the auction is not enormous.
2. According to Samsung, it has signed a joint venture agreement with automaker Stellatis NV (STLA.US) to produce electric vehicle batteries and modules in the United States.
According to the SMM survey, Stellattis Group and South Korean battery manufacturer Samsung SDI established a joint venture to produce battery cell and battery modules for the North American market in order to gain increasing competitiveness. Stellattis plans to invest more than 30 billion euros in electrification and software development by 2025. At the same time, electric vehicle sales in the United States will account for 40% of the group's total sales by 2030. The joint venture will commence operation in H1 2025 with an initial annual battery output of 23GWh. The annual battery capacity of the joint venture is likely to increase to 40Gwh in the future.
3. According to the SMM survey, Stellattis Group and South Korean battery manufacturer Samsung SDI established a joint venture to produce battery cell and battery modules for the North American market in order to gain increasing competitiveness. Stellattis plans to invest more than 30 billion euros in electrification and software development by 2025. At the same time, electric vehicle sales in the United States will account for 40% of the group's total sales by 2030. The joint venture will commence operation in H1 2025 with an initial annual battery output of 23GWh. The annual battery capacity of the joint venture is likely to increase to 40Gwh in the future.
Mercedes-Benz plans to launch LFP battery models amid the rise in the prices of raw materials of the ternary battery. The short range and low price are helpful to gain popularity. Daimler's statement means that the Mercedes-Benz brand will also use LFP batteries in the passenger car field, and the company’s research and development focus of power battery has shifted to LFP. The landscape of the battery field is likely to change.
