In recent years, sodium-ion batteries have emerged as a new focus in the field of new energy materials, thanks to their abundant resources, low cost, and excellent safety. Within the core material system of sodium-ion batteries, the cathode material, which acts as the "heart" determining the battery's energy density and cycling performance, has a direct bearing on the commercialization process of sodium-ion batteries with respect to its technological maturity and industrialisation capabilities. As we step into 2025, large-scale mass production of sodium-ion batteries is gradually becoming a reality, marking a critical leap from laboratory to industrialisation.

[SMM Cobalt and Lithium Morning Meeting Summary: On Monday, the prices of 5-series, 6-series, and 8-series ternary cathode materials rose. On the raw material side, the prices of nickel sulphate and manganese sulphate were basically flat, while cobalt sulphate and lithium carbonate saw significant increases, and the decline in lithium hydroxide prices slowed down. Due to weak market demand and the continued dominance of battery cell manufacturers in pricing negotiations, there was limited room for a substantial increase in the prices of ternary cathode materials. Downstream battery cell manufacturers reacted mediocrely to the rise in cobalt sulphate prices, and the discount coefficient is expected to remain stable.

SMM Cobalt Morning Meeting Summary: On Monday this week, the price of refined cobalt dropped slightly. On the supply side, smelters producing refined cobalt maintained long-term contract supplies, with fewer spot order quotations, and the ex-factory price remained unchanged. Due to the impact of the "pump and dump" rumors over the weekend, the futures market of COFCO Futures saw a price decline, with traders following suit in their quotations. On the demand side, given the still high social inventory of refined cobalt and no significant improvement in downstream demand, most downstream producers maintained a just-in-time procurement rhythm, with actual transactions remaining weak. It is expected that in the short term, the price of refined cobalt will continue to maintain a fluctuating trend.

[SMM Analysis: Milestone Event for Solid-State Batteries - Anwa New Energy's GWh-Level Solid-State Battery Production Line Goes into Operation] A significant breakthrough has been achieved in the field of industrialisation. This production line adopts a dry electrode process, streamlining the traditional 11-step lithium battery manufacturing process into just 5 steps, reducing equipment investment by 30% and energy consumption by 20%. It is compatible with the production of multiple battery systems, including ternary, LFP, and sodium-ion batteries. The first batch of 1.0 products boasts an energy density exceeding 300Wh/kg, achieving "non-combustible and non-explosive" performance through nail penetration tests. The second-generation 400Wh/kg samples have entered the trial production stage.

According to a news release from GRINM New Energy, the first phase of the project with an annual output of 10,000 mt of cathode material for lithium-ion batteries, constructed by GRINM New Energy Materials (Jiangxi) Co., Ltd. (hereinafter referred to as GRINM New Energy), has recently successfully passed the planning acceptance by the planning authority of Xinyu High-Tech Zone in Jiangxi Province. This marks that the project has met high standards in terms of planning compliance, construction quality, and supporting facilities, laying a solid foundation for the enterprise's high-quality development. This project is an important layout for the company in the field of new energy materials. The first phase of the project has a total investment of 180 million yuan and a total construction area of 28,000 m², encompassing functions such as office, R&D, and production.

SMM Cobalt Morning Meeting Summary: On Monday this week, the price of refined cobalt dropped slightly. On the supply side, smelters producing refined cobalt maintained long-term contract supplies, with fewer spot order quotations, and the ex-factory price remained unchanged. Due to the impact of the "pump and dump" rumors over the weekend, the futures market of COFCO Futures saw a price decline, with traders following suit in their quotations. On the demand side, given the still high social inventory of refined cobalt and no significant improvement in downstream demand, most downstream producers maintained a just-in-time procurement rhythm, with actual transactions remaining weak. It is expected that in the short term, the price of refined cobalt will continue to maintain a fluctuating trend.

[SMM Cobalt and Lithium Morning Meeting Summary: On Monday, the prices of 5-series, 6-series, and 8-series ternary cathode materials rose. On the raw material side, the prices of nickel sulphate and manganese sulphate were basically flat, while cobalt sulphate and lithium carbonate saw significant increases, and the decline in lithium hydroxide prices slowed down. Due to weak market demand and the continued dominance of battery cell manufacturers in pricing negotiations, there was limited room for a substantial increase in the prices of ternary cathode materials. Downstream battery cell manufacturers reacted mediocrely to the rise in cobalt sulphate prices, and the discount coefficient is expected to remain stable.