【SMM Analysis：Profit Margins Remain, Refined Cobalt Production Continues to Increase】

Cobalt and nickel price review and forecast

Lithium Salt Price Review & Forecast

On February 28th, SVOLT Energy held a production commencement ceremony in Thailand, announcing that the SVOLT Thailand factory has officially begun production and the products have started to be delivered in bulk. New energy vehicle models under the brands Great Wall and Hozon will soon be launched in Thailand. This production launch signifies that the SVOLT Thailand factory has achieved the localization of battery supply in Thailand at a rapid pace, within just five months, further improving SVOLT's new energy industrial layout in the Asia-Pacific region.

Phosphoric acid prices have been increased, leading to higher production costs for ferrous phosphate and wet-process phosphoric acid (PPA).

SMM expects more frequent liquidating transactions to appear in 2024, as the industry grapples with immediate financial pressures and companies push for more cost-efficient strategies.

Affected by the continued losses in lithium salt companies purchasing lithium ore externally, which triggered to production suspension or reduction, as well as the seasonal maintenance of some lithium salt companies, it is preliminarily estimated that China's lithium carbonate output in February will decline by about 23% month-on-month to around 32,000 mt.

Both Argentina and Australia communicated with foreign governments to seek lithium investors and partners. China is out of the loop but in the discussion.

SHANGHAI, Sep 23 (SMM) - In the first eight months of 2022, the production and sales of new energy vehicles in China reached 3.97 million units and 3.86 million units, respectively, and the NEV ownership stood at 10.99 million units, accounting for about half of the world.

SHANGHAI, Sep 14 (SMM) - China's power battery output totalled 47.2 GWh in July, up 14% MoM and 172% YoY.

SHANGHAI, Aug 26 (SMM) – Recently, the extremely hot weather in east China has gradually cooled off, easing the power supply crunch in Anhui and Jiangsu.