As of this Friday, at northern ports: Australian lump ore was priced at 39.5-40 yuan/mtu, up 0.63% WoW from last Friday; Australian seed ore was priced at 36-37 yuan/mtu, up 0.55% WoW from last Friday; South African semi-carbonate ore was priced at 33.6-34.1 yuan/mtu, up 1.50% WoW from last Friday; Gabonese ore was priced at 37.8-38.8 yuan/mtu, up 3.79% WoW from last Friday; South African high-iron ore was priced at 29.3-29.6 yuan/mtu, up 0.34% WoW from last Friday. At southern ports: Australian lump ore was priced at 39.5-40 yuan/mtu, up 0.63% WoW from last Friday; Australian seed ore was priced at 35.5-36 yuan/mtu, up 0.56% WoW from last Friday; South African semi-carbonate ore was priced at 33.9-34.4 yuan/mtu, up 1.51% WoW from last Friday; Gabonese ore was priced at 38.5-39 yuan/mtu, unchanged WoW from last Friday; South African high-iron ore was priced at 28.5-29 yuan/mtu, unchanged WoW from last Friday. Supply situation: The spot market for some manganese ores was relatively tight, supporting the rise in manganese ore prices. Traders had a weak willingness to sell at low prices. On the demand side...

From the overall data analysis, at the end of June, the rigid demand in the energy storage sector remained stable, supported by domestic and overseas demand due to mid-year activities and various policies. The automobile sales boom from earlier auto shows in June has since subsided. The new energy vehicle penetration rate has stabilized, but the consumer market is lackluster. While terminal demand is expected to increase somewhat, the growth is likely to be limited. In terms of market transactions, activity remained low through the end of June. Some second-life battery manufacturers maintained minimal inventory, adhering to a just-in-time procurement strategy. Looking ahead to July, after the mid-year period, demand for both automotive and energy storage markets is expected to decline further.

Last week's announcement of import and export restrictions in the Congo (DRC) has led to a continuous increase in cobalt sulfate prices. However, due to insufficient short-term demand support, the price increase has been relatively limited. Nickel sulfate prices have remained essentially stable, while lithium carbonate prices have shown a slight rebound and are fluctuating.

The progress of the recall incident this week is as follows:

Zangge Mining recently announced that Tibet Ali Mamicuo Mining Development Co., Ltd., invested in and controlled by Jiangsu Zangqing New Energy Industry Development Fund Partnership (Limited Partnership), in which Zangge Mining Investment (Chengdu) Co., Ltd., a wholly-owned subsidiary of Zangge Mining, participated in the subscription, had received the "Construction Engineering Permit" issued by the Gerze County Housing and Urban-Rural Development Bureau. According to the announcement, the permit is for the construction of the "Mamicuo Salt Lake Mining Area Lithium-Boron Mining Project," which is conducive to expanding the company's capacity scale for lithium extraction from salt lakes, enhancing the company's core competitiveness and industry influence, aligning with the company's development strategy and the interests of all shareholders, and creating new profit growth points for the company.

[SMM Data: Electrolyte Production Rose Slightly MoM in June] Electrolyte production in June 2025 increased 0.1% MoM, and is expected to increase 0.2% MoM in July.

On July 3, 2025, the US House of Representatives passed a comprehensive tax and spending reform bill (The One, Big, Beautiful Bill) led by President Trump. The bill, with its extensive content, has drawn widespread market attention, particularly for the significant adjustments made to the subsidy mechanism for electric vehicles (EVs). The $7,500 federal tax credit for new cars and the $4,000 credit for used cars will officially terminate on September 30, which is expected to have a profound impact on the US new energy vehicle (NEV) market.