[Subaru and Panasonic Reach Battery Cooperation Agreement] According to foreign media reports, after months of negotiations regarding long-term supply cooperation for electric vehicle batteries, Subaru and Panasonic Energy have signed a so-called "basic cooperation agreement." The agreement involves Panasonic supplying cylindrical lithium-ion batteries for Subaru's future pure electric vehicles. The dialogue between the two parties began in July 2023, when Subaru was interested in Panasonic's latest high-capacity cylindrical batteries. It is reported that these batteries are likely to be the 4680 batteries (46 mm in diameter and 80 mm in height) or similar models....

On March 11th, lithium carbonate futures surged 3.28% to 116,400 yuan/ton, and spot prices rose to an average of 109,250 yuan/ton, amidst cautious market optimism.

On March 8th, lithium carbonate futures fell by 0.70% to 113,350 yuan/ton, while spot prices slightly increased to an average of 108,900 yuan/ton, amid ongoing market adjustments.

【SMM Cobalt-Lithium Morning Meeting Summary: Lithium Carbonate Prices Rose Overall on Monday. On the supply side, some lithium salt companies were still in the early stages of resuming production after maintenance, resulting in relatively limited supplies available for spot sales beyond long-term contract orders. Some lithium salt companies have intentions for subsequent deliveries, but overall, lithium salt companies continue to sell long-term contract orders while pricing spot orders firmly. Their spot prices continue to rise. However, downstream companies like cathode material producers have given feedback that due to the recent continuous increase in lithium carbonate prices, while the pricing transmission of their products lags behind the lithium carbonate price hikes, the current pricing transmission situation makes it difficult to fully pass on the increased raw material costs to downstream customers, gradually squeezing production profits...】

On March 6th, lithium carbonate futures fell by 1.17% to 114,000 yuan/ton, while spot prices remained stable at an average of 107,500 yuan/ton amidst market steadiness.

[India launches second round of critical mineral block bidding 18 critical mineral blocks involving tungsten, vanadium, cobalt and nickel will be auctioned] According to the Mining.com website, citing Reuters, Indian mining minister Pralhad Joshi revealed on Thursday that a second round of critical mineral block auctions worth 30 trillion rupees (about 362 billion US dollars) will be launched. According to the government announcement, 18 critical mineral blocks will be auctioned, involving minerals including tungsten, vanadium, cobalt and nickel, among others. Joshi added that there will be no more coal shortages in India this year.

[National Bureau of Statistics: Solar cell production will increase by 54% in 2023] On February 29, the National Bureau of Statistics released the "Statistical Communiqué of the People's Republic of China on National Economic and Social Development in 2023", which disclosed a number of power data, including installed power capacity, energy consumption, etc. According to the data, in 2023, the output of solar cells (photovoltaic cells) will be 540 million kilowatts, an increase of 54.0%, and in 2023, the power generation of clean energy such as hydropower, nuclear power, wind power, and solar power will be 3,190.6 billion kilowatt hours, an increase of 7.8% over the previous year.

On February 28, the average price of SMM8-12% high nickel pig iron was 960 yuan/nickel point (ex-factory tax included), which was flat compared with the previous working day.

SMM Analysis presents a detailed cost breakdown of 280Ah lithium iron phosphate energy storage cells, showing a stable cost trend and an industry shift towards higher capacity 300Ah+ cells for cost efficiency.

The battery industry faces a turbulent 2024 with price wars, cost reductions, and overcapacity. Despite challenges, innovations in technology and strategic shifts promise opportunities for growth.