【SMM Analysis：Bulk transactions were limited, and the prices of cobalt intermediate products slightly declined during the week.】

Sep 21 news: North ports: 46% Australian lumps at 40.3-40.8 yuan/mtu, flat WoW; South African semi-carbonate at 33.5-33.8 yuan/mtu, down WoW; Gabonese at 39.1-39.3 yuan/mtu, down WoW; South African high-iron at 28.8-29.3 yuan/mtu, flat WoW; South African medium-iron at 35.2-35.5 yuan/mtu, down WoW. South ports: 46% Australian lumps at 42.7-43.2 yuan/mtu, flat WoW; South African semi-carbonate at 36-36.5 yuan/mtu, down WoW; Gabonese at 40.3-40.8 yuan/mtu, flat WoW; South African high-iron at 29.3-29.8 yuan/mtu, down WoW; South African medium-iron at 37.1-37.6 yuan/mtu, up WoW. Inquiry activity in the manganese ore market remains sluggish, pre-holiday stockpiling and the traditional peak season have fallen short of expectations, and port spot prices in both north and south China are broadly declining.

[MIIT and eight other departments: By 2030, average energy consumption of battery electric passenger vehicles to reach around 11.5 kWh per 100 km] The MIIT and eight other departments issued the Intelligent Connected NEV Industry Development 15th Five-Year Plan. The plan proposes that by 2030, key technology levels will be effectively improved. Average fuel consumption of passenger vehicles will reach 3.3 liters per 100 km, and average energy consumption of battery electric passenger vehicles will reach around 11.5 kWh per 100 km. Highly automated driving will be achieved on highways, urban expressways, and some urban roads.

[State Grid: Providing Fair and Efficient Grid Connection Services for New Entities and Business Forms Such as New Energy, New-Type Energy Storage, and Generation-Grid-Load-Storage] State Grid Corporation of China has released several measures to build a modern electricity business environment and empower high-quality economic and social development. Among them, it mentioned proactively serving enterprises in energy conservation, carbon reduction, and efficiency improvement. It will deepen "power supply + energy efficiency" services, fully promote the "Enterprise Electricity Assistant," push energy efficiency bills to 100% of registered high-voltage clients on "Online State Grid," and provide free energy-saving diagnostics as well as green electricity and green certificate consulting services. It will actively support the construction of zero-carbon parks and assist export-oriented enterprises in low-carbon development through direct green electricity connections and renewable energy substitution.