[The Largest Solid-State Battery Project in China]

On March 29, Kanglongda announced that it jointly signed an "Agreement to Terminate the Binding Terms Sheet Regarding the Purchase of Spodumene from the Bougouni Lithium Project" with Kodal Minerals PLC (referred to as "KODAL"), Hainan Mining and its controlling subsidiary, Kodal Mining UK (referred to as "KMUK"). According to the agreement, KMUK will pay Suay Chin a total of 14 million US dollars in termination fees in two installments. After receiving the first installment of 7 million US dollars, the "Bougouni (Bougouni) Mine Project Spodumene Sales Binding Term Memorandum" signed by Suay Chin and KODAL in 2017 will terminate, meaning Suay Chin will give up the priority right to underwrite no less than 80% of the concentrate products for the first three years after the Bougouni carp mine project starts production; KMUK needs to complete the payment of all termination fees before the first batch of spodumene is shipped from Mali or before October 31, 2024 (whichever comes first).

Lithium Iron Phosphate Contract Negotiations Underway at End of March, Significant Improvement in Order Outlook Expected [SMM Weekly Review]

Spot market stable at 107,500-112,000 yuan/ton, futures rose 0.88% to 108,500 yuan/ton, with 199,520 lots traded.

The electric vehicle industry is facing the challenge of fluctuating lithium prices, and a diversified strategy is necessary to cope with this dilemma. Strengthening market analysis, technological innovation, industry chain collaboration, and flexible adjustment of business decisions, as well as deepening international cooperation and exchanges, are all key to the industry's stable development. Against the backdrop of the booming new energy sector and the transformation of the global energy structure, the electric vehicle industry has a broad development prospect, but it also needs to be alert to the risks associated with lithium price fluctuations. Utilize the SMM website and other resources to get timely information on lithium prices to protect the industry's development.

Lithium price volatility has become a factor that cannot be ignored in the wave of global energy transition. Governments, enterprises and the international community need to work closely together to overcome the difficulties. The government will strengthen lithium resource exploration and development, and promote technological innovation; enterprises will increase R&D investment and explore new energy technologies; and the international community will stabilize the supply and demand relationship in the lithium market through cooperation and coordination. SMM website provides timely and accurate lithium price data to help all parties make scientific decisions. Only by working together can we overcome the challenges posed by lithium price volatility and drive the global energy transition towards a more sustainable future.

On March 18th, lithium carbonate futures increased by 3.00% to 116,900 yuan/ton, with spot prices mildly rising to an average of 112,550 yuan/ton, amidst strategic market adjustments.

Multiple lithium producers in Australia have operational or strategic updates this week, adding to their recent earnings calls, many of which stress the importance of cautious plannings, near-term flexibilities, and long-term optimism in this lithium cycle downturn.

【China's domestic power battery installation volume in February is 18GWh, CATL holds over 55% market share】Recently, the China Automotive Power Battery Industry Innovation Alliance (hereinafter referred to as "Battery Alliance") released the power battery monthly data for February of this year. According to the data, in February, China's power battery installation volume declined both year-over-year and month-over-month. From a corporate perspective, CATL's market share exceeded 55%, with BYD's share close to 18%. Specifically, in February, China's power battery installation volume was 18GWh, a year-over-year decrease of 18.1% and a month-over-month decrease of 44.4%. This is in line with the downward trend in the production and sales of new energy vehicles for the month.

On the morning of March 11, the 200MW/400MWh grid-side energy storage project in Wuyi County, Jinhua City, Zhejiang Province officially started, which is also the largest grid-side independent energy storage project in Zhejiang Province, which is currently the largest grid-side independent energy storage project in Zhejiang Province, which was signed by Wuyi County, Jinhua City and Sunwoda Smart Energy, with a total planned investment of 800 million yuan. According to Shenzhen Sunwoda Smart Energy Co., Ltd. (hereinafter referred to as Sunwoda Smart Energy), on the morning of March 11, the 200MW/400MWh grid-side energy storage project in Wuyi County, Jinhua City, Zhejiang Province officially started, which is also the largest grid-side independent energy storage project in Zhejiang Province. The project was signed by Wuyi County, Jinhua City, Zhejiang Province and Sunwoda Smart Energy, with a planned total investment of 800 million yuan, and the project will be connected to the grid before June 30, 2024 according to the construction target.

On March 12th, lithium carbonate futures surged 4.13% to 119,850 yuan/ton, and spot prices rose to an average of 110,000 yuan/ton, amid market optimism and supply-demand adjustments.