Sodium electricity: Solid-state sodium-sulfur batteries with energy density of 1000Wh/kg will be mass-produced in 2025

In July 2026, China's phosphate ore imports fell to only 17,000 tonnes, down 87.3% month-on-month, hitting a near-three-year low, while exports dropped to zero. The average import price was USD 84.5/tonne, down 7.6% MoM. By province, only Guangxi maintained 14,000 tonnes; all others recorded zero. By origin, Egypt's volume shrank 81%, with only a tiny increase from Kazakhstan. The June export surge was followed by a July zero.

[SMM Analysis: China's Phosphate Ore Imports Plunged 87% in July to a Near Three-Year Low, Exports Fell to Zero] In July 2026, China's phosphate ore imports totaled just 17,000 mt, plunging 87.3% MoM to a near three-year low, while exports fell to zero. The average import price was $84.5/mt, down 7.6% MoM. Among importing provinces, only Guangxi maintained imports of 14,000 mt, with all others dropping to zero. Egypt's import volume from the source country plunged 81%, while Kazakhstan saw marginal growth. After a surge in exports in June, they fell to zero in July, mainly due to order fulfillment completion, off-season demand, and regulatory policies. Imports are unlikely to rebound in the short term, with attention on winter stockpiling and export policy changes.

This week, the industry chain exhibited a divergent trend. The lithium segment performed relatively strong. Lithium ore prices held firm, supported by tight spot cargo flows, price firmness at the mine end, and rigid procurement by salt plants; however, the squeeze of high-priced raw materials on smelting profits gradually emerged. Lithium carbonate first rose then fell, with downstream purchase willingness strengthening near 150,000 yuan/mt; market sentiment for lithium hydroxide recovered somewhat. The nickel salt and ternary chain were under pressure overall, with prices of nickel sulphate, ternary cathode precursor, and ternary cathode material weakening; export orders and demand for 9-series materials provided partial support. LFP maintained high activity, with industry effective capacity near full load; tight supply of iron phosphate became the main bottleneck, and cathode inventory continued to decline. Prices of anode, separator, and electrolyte were generally stable, but supply and demand for raw materials such as LiPF6 and VC tightened. Sodium-ion battery NFPP orders continuously exceeded existing capacity, and ESS battery cabin prices remained stable. The recycling market was affected by the decline in cobalt sulphate prices; transactions of ternary and LCO black mass became cautious. The industry as a whole remains in a phase of inventory adjustment and supply-demand rebalancing before the peak season.