[SMM Analysis: 10,000 mt Production Lines of NFPP Successively Put into Operation: Innovation in Sodium-ion Battery Cathode Materials and Reshaping of Market Landscape] SMM reported on May 13: On May 8, 2025, Huzhou Yingna New Energy put its 10,000 mt-scale production line for sodium iron iron(II) phosphate (NFPP) cathode materials into operation, marking a new stage in the commercialization of sodium-ion batteries...

SMM Cobalt Morning Meeting Summary: This week, the spot price of refined cobalt saw a slight increase. Supply side, production cuts at refined cobalt smelters continued, and social inventory was still being consumed at a steady pace. Demand side, orders from downstream producers did not show significant recovery, and they maintained a purchasing rhythm of scheduling production according to demand, with a lackluster willingness to purchase at high prices. However, some traders anticipated that subsequent policies in the DRC would be rolled out in the future, leading to increased activity in speculative trading. It is expected that this week, the price of refined cobalt may hold up well.

[SMM Cobalt & Lithium Morning Meeting Summary: On Monday, the price of ternary cathode material continued to decline. In terms of raw materials, the prices of nickel sulphate and cobalt sulphate remained stable overall, while the price of manganese sulphate decreased slightly. However, the prices of lithium carbonate and lithium hydroxide fell sharply, driving down the prices of various ternary cathode materials. Demand side, the performance of the large NEV market remained stable. Although individual automakers achieved good sales, providing some support for ternary cathode material, the increase was limited.