Echelon Utilization: Based on overall data analysis, vehicle sales showed some growth in June, but the support was limited. Demand in the energy storage sector remained stably supported by rigid requirements. The sales boom driven by earlier auto shows is gradually subsiding. The market penetration rate of new energy vehicles has stabilized, and current terminal market consumption momentum remains insufficient. Market sentiment suggests that incremental terminal demand is expected to be relatively limited.

This week, following the announcement of import/export restrictions by the Democratic Republic of Congo (DRC), cobalt sulfate prices continued to rise, nickel sulfate prices remained stable, while lithium carbonate prices saw a minor rebound and fluctuated. The recovery rates for black mass like ternary and lithium cobalt oxide (LCO) remained flat this week, with the cobalt rate seeing a slight increase and the lithium rate continuing to decline. Currently, lithium point prices for lithium iron phosphate (LFP) cathode black mass range from 2,150 to 2,300 yuan per lithium point, while LFP battery black mass lithium points range from 1,950 to 2,100 yuan. Taking ternary black mass as an example: current nickel-cobalt recovery rates for ternary cathode black mass are 72-74%, with lithium recovery rates at 66-70%. Recovery rates for ternary battery black mass nickel-cobalt are 70-72%.

In June 2024, Australian mining company Latitude 66 announced the discovery of a 2.5-kilometer-long mineralized corridor containing gold, cobalt, and copper in the K6 exploration area of northern Finland. Though still in early-stage exploration, the discovery could have far-reaching implications for Europe’s ongoing efforts to secure critical mineral supply chains. From a resource, geographic, and policy standpoint, the project shows strong potential to become a key contributor to Europe’s green energy transition.

Global lithium producers gathered at a major industry conference this week, but what dampened their spirits was the widespread belief within the industry that the phase of low lithium prices had not yet passed. Dale Henderson, CEO of Australian lithium miner Pilbara Minerals, stated that the company was feeling the market pain. Practitioners pointed out that despite the continuous rise in demand for lithium metal, lithium prices had been declining, which was quite contradictory. However, the industry consensus was that this "paradox" was unlikely to be resolved before 2030.

This week, the spot lithium carbonate market exhibited a fluctuating trend, initially declining and then rebounding. The center of transaction prices shifted slightly higher WoW, but the overall market remained constrained by the fundamental pattern of oversupply, with no significant easing of the supply-demand imbalance.

Under the terms of the deal, Rock Tech will supply battery-grade lithium hydroxide from its forthcoming refinery in Guben, Germany, to Ronbay's cathode manufacturing facility in Konin, Poland. This vertical integration creates a seamless supply chain that reduces reliance on imports and shortens delivery times for European battery manufacturers.

As of this Friday, at northern ports: Australian lump ore was priced at 39-40 yuan/mtu, unchanged from last Friday; Australian seed ore was priced at 35.8-36.8 yuan/mtu, unchanged from last Friday; South African semi-carbonate ore was priced at 33.1-33.6 yuan/mtu, up 1.52% WoW from last Friday; Gabonese ore was priced at 36.4-37.4 yuan/mtu, up 1.1% WoW from last Friday; South African high-iron ore was priced at 29.1-29.6 yuan/mtu, unchanged from last Friday. At southern ports: Australian lump ore was priced at 39-40 yuan/mtu, unchanged from last Friday; Australian seed ore was priced at 35.3-35.8 yuan/mtu, down 0.56% WoW from last Friday; South African semi-carbonate ore was priced at 33.4-33.9 yuan/mtu, up 1.22% WoW from last Friday; Gabonese ore was priced at 38.5-39 yuan/mtu, up 1.04% WoW from last Friday; South African high-iron ore was priced at 28.5-29 yuan/mtu, up 0.7% WoW from last Friday. At month-end, downstream alloy plants stockpiled manganese ore, leading to a gradual reduction in inventory at northern and southern ports. Influenced by the positive performance of the SiMn futures market this week, spot manganese ore prices showed an upward trend, with some miners maintaining firm quotes. Future price movements will depend on the performance of the SiMn futures market and the purchasing behavior of downstream alloy plants for manganese ore.