LFP Prices to Remain Stable on Cost Support

Jixin Technology (601218.SH) announced that its wholly-owned subsidiary Jixin Binhai plans to invest in the construction of the Jixin Technology Binhai Wind Power High-end Equipment Intelligent Manufacturing Project (Phase I), with total investment not exceeding 700 million yuan. The project plans to build new facilities including a casting combined workshop and machining workshop. Phase I designed capacity is 50,000 mt/year, with a construction period of 18 months and construction expected to start in November 2026. Funding sources include self-owned funds and bank loans. This investment has been approved by the board of directors and does not require shareholder meeting approval.

At the beginning of this week, prices across the industry chain remained weak. After refined cobalt futures fell, traders raised their spot-futures price spread quotes, but downstream buyers continued to purchase only on a need-to basis. In the intermediate product market, there were almost no inquiries or transactions, with holders indicating prices above $17/lb while some buyers would only accept below $13/lb, widening the divergence. Cobalt sulphate, cobalt chloride, and Co3O4 prices continued to pull back, with downstream procurement subdued and lower raw material costs weakening price support. Cobalt powder enterprises also lowered their quotes, and high-priced inventory delayed restocking by cemented carbide enterprises. Ternary cathode precursors saw production schedules trend lower due to weaker nickel and cobalt salt prices and insufficient demand for some orders. Ternary cathode material prices fell along with raw materials, and cathode plants mainly consumed existing inventory. LCO demand showed no seasonal boost, and prices remained at risk of further weakness. Overall, pre-holiday stockpiling was limited, and the market is waiting for inventory digestion and demand improvement.

Sanxia New Material (600293.SH) announced that the company plans to acquire no less than 53.14% of the shares of Zhuhai Saiwei Electronic Materials Co., Ltd. through share issuance and cash payment, which is expected to constitute a major asset restructuring. Trading in the company's shares will be suspended from September 29, 2026, with the suspension expected to last no more than 10 trading days. The target company's main business: primarily engaged in the R&D and production of electronic specialty materials such as lithium-ion battery electrolyte and new-type membrane materials, and holds a hazardous chemicals production license.