September 19 (SMM) — Northern ports: Australian lumps at 40.6-41.1 yuan/mtu, up 0.74% WoW; South African semi-carbonate at 34.2-34.7 yuan/mtu, up 0.58% WoW; Gabon ore at 39.6-40.2 yuan/mtu, up 0.76% WoW; South African high-iron ore at 29.6-30.1 yuan/mtu, up 0.67% WoW; South African medium-iron ore at 35.3-35.8 yuan/mtu, flat WoW. Southern ports: Australian lumps at 40.3-41 yuan/mtu, up 1.25% WoW; South African semi-carbonate at 36.3-36.8 yuan/mtu, up 0.55% WoW; Gabon ore at 40.2-40.7 yuan/mtu, up 1.25% WoW; South African high-iron ore at 30.5-31 yuan/mtu, flat WoW; South African medium-iron ore at 36.7-37.4 yuan/mtu, flat WoW. This week, the manganese ore market operated firmly. Traders' reluctance to budge on prices remained, and the transaction price center edged up overall. Operating rates at plants in both north and south China stayed high this week. In addition, the recent fluctuation of SiMn futures at highs provided positive feedback to the SiMn market. The overall market sentiment was positive, and the acceptance of manganese ore prices improved. Ore miners’ firm offers still underpinned the market, and manganese ore transaction prices rose overall. Stockpiling by plants for the National Day holiday is underway, and demand for manganese ore remains. Expectations of rising manganese ore prices persist. In general, the manganese ore market operated firmly recently, and ore miners’ reluctance to budge on prices remained strong. Manganese ore prices are expected to stay high in the near term.

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Start from the root of solid-state batteries to build a systematic understanding of them. First, clarify their definition, advantages, and fundamental differences from liquid batteries to lay the foundation. Then delve into their technical core, analyzing key challenges such as ion conduction, the principles of increasing energy density, and interfacial impedance. Finally, focus on the material systems, detailing the characteristics and trade-offs of the three major electrolyte routes—oxide, sulphide, and polymer—as well as the evolution directions of cathode and anode materials. These three articles aim to unveil the "technical black box" of solid-state batteries, showcasing their revolutionary physicochemical foundations.

[EMP Metals Obtains Construction and Operation Permit for Aurora Project Demonstration Plant]

This week, market conditions showed synchronized growth in lithium carbonate and cathode material prices, with cost pass-through driving a steady increase in new battery cell prices. Supply side, speculation suggests battery cell manufacturers prioritized stabilizing prices for A-grade batteries for well-known mobile phones, further reducing sales of second-life B-grade cells, directly tightening supply of popular second-life battery cells. Demand side, overall second-life battery market demand remained stable, with downstream purchasing enterprises maintaining steady procurement needs. Supply-demand dynamics slightly pushed up prices of popular second-life battery cells, while conventional second-life cell prices were less affected by these adjustments.

This week, prices of nickel, cobalt, lithium, and other salt products continued to rise. With the increase in salt product prices, the nickel, cobalt, and lithium payable indicators for ternary and LCO black mass also rose steadily. The prices per % lithium for LFP black mass also began to increase this week. Taking LFP pole piece black mass as an example, the current price range is 2,650–2,800 yuan/mtu, up 100 yuan/mtu WoW. For ternary black mass, the current nickel and cobalt payable indicator stands at 73.5–75%, flat WoW, while the lithium payable indicator remains at 68–71%, also largely unchanged from the previous week. On the LFP hydrometallurgy side, most enterprises adopted a wait-and-see approach at the beginning of the week, with many LFP battery hydrometallurgy recycling plants maintaining toll processing. However, as lithium carbonate prices rose this week, some upstream enterprises followed suit with price increases. Currently, the profit margin for externally purchased LFP black mass used in lithium chemicals production has shifted from hovering around the breakeven point at the end of August to approximately -5% to -8%. As a result, most lithium chemical recycling enterprises that resumed production in mid-August have adopted a cautious stance toward purchasing raw materials such as black mass. Market sentiment was mediocre compared to the previous week. With cobalt sulphate prices rising steadily from last month to mid-this month, the cobalt and lithium payable indicators for LCO black mass increased to some extent this week. However, due to high upstream quotations and ongoing overseas policy uncertainties, downstream transactions remained cautious.

Cobalt Chloride: Strong Cost Support and Intense Market Wait-and-See Sentiment