The power battery dismantling and crushing project of Ganzhou Green Eco Solid Waste Comprehensive Utilisation Co., Ltd. is located in Dayu County, Ganzhou City, Jiangxi Province, with a total investment of 500 million yuan. As a new project, it has a production capacity of recycling and treating 50,000 mt of scrap ternary lithium batteries annually.

【SMM Analysis】Recycling Industry Events This Week (Jun. 3-6): This week's recycling industry events.

Global mining giant Rio Tinto has signed an agreement with Chile’s state-owned Codelco to jointly develop a major lithium project in the Salar de Maricunga, marking a strategic expansion in battery metals. Under the deal, Rio Tinto will acquire a 49.99% stake in the project company by investing $900 million, collaborating with Codelco to advance the development of this high-grade lithium brine resource.

As of Friday this week, at northern ports: Australian lump ore was priced at 39.5-40.5 yuan/mtu, unchanged WoW from last Friday; Australian seed ore was priced at 35.8-36.8 yuan/mtu, down 0.55% WoW from last Friday; South African semi-carbonate ore was priced at 32.6-33.1 yuan/mtu, down 1.50% WoW from last Friday; Gabon ore was priced at 35.6-36.6 yuan/mtu, down 1.37% WoW from last Friday; South African high-iron ore was priced at 29.3-29.8 yuan/mtu, down 0.67% WoW from last Friday. At southern ports: Australian lump ore was priced at 39.3-40.3 yuan/mtu, down 0.50% WoW from last Friday; Australian seed ore was priced at 35.5-36 yuan/mtu, down 1.38% WoW from last Friday; South African semi-carbonate ore was priced at 33-33.5 yuan/mtu, down 1.48% WoW from last Friday; Gabon ore was priced at 38.1-38.6 yuan/mtu, down 0.52% WoW from last Friday; South African high-iron ore was priced at 28.3-28.8 yuan/mtu, up 0.70% WoW from last Friday. Manganese ore inventories at ports continued to decline slowly during the week. Downstream alloy plants maintained a cautious approach to purchasing small quantities of manganese ore to meet their immediate needs. However, due to ongoing losses on production, alloy plants had low acceptance of high-priced manganese ore raw materials and tended to drive down prices when purchasing. Miners' offers were under pressure, and the spot price of manganese ore was in the doldrums. Attention should be paid to the future performance of SiMn futures and the actual purchasing situation of manganese ore by downstream alloy plants.

SMM Cobalt Morning Meeting Summary: This week, the spot price of refined cobalt declined slightly. Supply side, the market is still absorbing the pace of social inventory digestion. The economic efficiency of refined cobalt production remains relatively low, leading to a slight decline in the capacity utilisation rate of smelters and a small drop in their quoted prices. Demand side, there has been no significant change in the purchasing pace of downstream producers, who continue to make just-in-time procurement, with inquiries and buying interest remaining relatively mediocre. It is expected that the spot price of refined cobalt may continue to fluctuate next week.

[SMM Cobalt & Lithium Morning Meeting Summary: This week, the price of ternary cathode material continued to decline. On the raw material cost side, nickel sulphate, cobalt sulphate, and manganese sulphate all showed a slight downward trend, while the prices of lithium carbonate and lithium hydroxide had not yet hit bottom and continued to face pressure. In the NEV market, terminal auto sales fell short of expectations, leading to weak demand for cathode materials and sluggish market sentiment. Except for a few leading battery cell manufacturers that saw an increase in orders, overall demand remained sluggish.