This week, spot prices of lithium carbonate continued to rise.

[SMM Data: LiPF6 Import and Export Data for October] In October 2024, China's cumulative export volume of LiPF6 was 1,200 mt, up 27.1% MoM.

【SMM Analysis：In October, China's imports of cobalt hydrometallurgy intermediate products decreased MoM, and the average import price also showed a downward trend.】According to customs data, in October 2024, China's imports of cobalt hydrometallurgy intermediate products were approximately 16,400 mt (metal content, calculated at 35% grade), down 24% MoM, up 47% YoY.

The fluctuation of crude oil prices plays a role in shaping inflation patterns according to experts in the field you are aware of the fact that the variations in these prices can have broad implications for economies across the globe. When crude oil prices go up the expenses related to producing and transporting goods also increase which results in elevated consumer prices. This occurrence significantly fuels inflation impacting a wide range of products including food and manufactured goods.

SMM, November 20: Yesterday afternoon, the energy metals sector saw a rapid rise, with the index's intraday gain exceeding 8%. Among individual stocks, Canmax rose over 13%, while Tianqi Lithium, YOUNGY, Ganfeng Lithium, Sinomine Resource Group all hit the daily limit.

SMM, November 20: On November 19, Canmax announced that to promote the exploration and development of mineral resources, the Ministry of Natural Resources, in accordance with relevant laws and regulations, has organized the Sichuan Provincial Department of Natural Resources to implement the bidding for the exploration rights of the Maijitan Lithium Mine in Ganzi Prefecture, Sichuan Province.

On November 19, the SMM lithium hydroxide index price was 68,010 yuan/mt, up 570 yuan/mt from the previous day.

SMM, November 19: In October, the average price of anode graphitisation was 9,033 yuan/mt, down 1.33% MoM.

SMM, November 19: In October, the average price of low-sulphur petroleum coke was 2,452 yuan/mt, up 6.06% MoM.

According to the announcement by the Ministry of Finance and the State Administration of Taxation, starting from November 2024, the export tax rebate rate for lithium batteries will be reduced from 13% to 9%. This policy adjustment aims to guide domestic price recovery by lowering export tax rebates, alleviate international trade accusations, and encourage the cultivation of internationally competitive products.