[SMM Weekly Review of Lithium Electrolyte Market: Electrolyte Prices Remained Stable This Week (2025.6.9-6.12)] From June 9 to June 12, 2025, electrolyte prices remained stable. Considering that it is difficult to achieve substantial improvement in the supply-demand relationship in the short term, the lack of strong stimulating factors in the industry, and the backdrop of stable raw material prices, it is expected that electrolyte prices will continue to fluctuate rangebound in the coming period.

[SMM Weekly Review] This week, the spot price of cobalt sulphate was in the doldrums. From the supply side, the quotes from mainstream smelters remained relatively stable, while spot quotes for cobalt sulphate from some recycling plants slightly declined. From the demand side, there has been no significant improvement in the order situation of material producers. Additionally, refined cobalt production was cut due to its weak economic viability. Coupled with the ongoing uncertainty surrounding future policies in the DRC, downstream producers generally maintained a wait-and-see sentiment, with purchase willingness remaining consistently low. No bulk purchasing activities have been observed yet. It is expected that the spot price of cobalt sulphate will continue to fluctuate weakly before the official introduction of the policy.

[SMM Weekly Review] This week, the spot price of cobalt intermediate products declined slightly. From the supply side, mainstream mines maintained their long-term contract pace, and traders' offers for goods declined slightly. From the demand side, due to the uncertainty surrounding the subsequent policies in the DRC and the recent decline in the prices of cobalt-related products, downstream producers remained on the sidelines, with weak purchase willingness. Overall, the inquiries and buying interest for cobalt intermediate products remained relatively mediocre this week, with buyers and sellers being cautious. It is expected that the spot price of cobalt intermediate products will likely remain stable until the official release of the policies.

[SMM Weekly Review of Power Battery Cell Market] Currently, the fluctuations in battery cell prices are more driven by adjustments in the demand-side rhythm and the transmission of inventory pressure, rather than changes in the material side.

[SMM Weekly Review: Refined Cobalt Price Maintains Fluctuating Trend] This week, the spot price of refined cobalt maintained a fluctuating trend. Supply side, the economic efficiency of refined cobalt production was relatively low, leading to a slight decline in the capacity utilisation rate of smelters and a minor decrease in supply, while quotations remained stable. Demand side, the future policy direction of the DRC remained uncertain, and there were no significant changes in the purchasing pace of downstream producers, who continued to make just-in-time procurement. Inquiries and buying interest were relatively mediocre. It is expected that before the official introduction of the policy, the spot price of refined cobalt will continue to maintain a fluctuating trend.

[SMM Weekly Review of Lithium Battery Graphite Market: Sluggish Graphitisation Orders Lead to Stagnant Prices, Overcapacity Suppresses Market Outlook] SMM News on June 12: This week, graphitisation prices remained stable. Supply-demand pattern-wise, the momentum for growth in graphitisation tolling services orders was insufficient.

[SMM Weekly Review of Lithium Battery Anode Market: Continued Decline in Anode Material Prices Due to Supply-Demand Mismatch] SMM News on June 12: This week, the prices of artificial graphite anode materials declined by varying degrees. From the perspective of the supply-demand pattern, the NEV market saw a pull back in procurement demand after the auto show ended.

[SMM Weekly Review of Lithium Battery Anode Raw Material Market: This week, the low-sulphur petroleum coke market remained stable, with an average market price of 3,525 yuan/mt, down 0.4% WoW.]