SMM Announces Official Launch of Korea Office to Strengthen Northeast Asia Presence

The Ministry of Industry and Information Technology (MIIT) and seven other departments issued the Work Plan for Stable Growth of the Non-ferrous Metals Industry (2025-2026). It mentioned that from 2025 to 2026, the added value of the non-ferrous metals industry is expected to grow by about 5% annually, with economic benefits maintaining a positive trend.

On February 23, the main contract of lithium carbonate 2407 rose sharply, up 4.30%, according to the data, the main contract of lithium carbonate 2407 opened at 98,150 / ton and closed at 101,800 yuan / ton, with a trading volume of 206,120 hands and a position of 173784 hands, an increase of 7,771 hands from the previous trading day. SMM's spot price of battery-grade lithium carbonate on the day was 93,500-99,000 yuan/ton, with an average price of 96,250 yuan/ton, an increase of 100 yuan/ton from the previous working day. Judging from the trend, after the opening of lithium carbonate prices on the same day, the shock ran steadily for a period of time and then rose slightly after a steady operation, and rose sharply at noon to the end of the session, and finally closed up 4.30%.

LG Energy Solution (LGES) signed a second offtake agreement with Wesfarmers Chemicals, Energy, and Fertilisers (WesCEF) on 14 February.

**In 2023, the lithium manganese oxide cathode material market in China experienced severe turmoil, with frequent price wars. Influenced by lithium carbonate prices, the price of lithium manganese oxide exhibited a "reverse U-shaped" trend throughout the year. The price of capacity-type lithium manganese oxide plummeted from a high of 137,000 yuan/ton at the beginning of the year to 54,000 yuan/ton in mid-to-late April, then rose to 98,000 yuan/ton in mid-to-late May, before steadily declining to 37,000 yuan/ton by the end of the year. Regarding production, compared to a low operating rate of 25% in 2022, the situation improved slightly in 2023, with an overall average operating rate of 39% for the year, mainly due to the relaxation of epidemic restrictions in 2023, leading to a relatively improved demand.**

SMM Daily Report: On February 19th, the price of lithium carbonate slightly decreased.

LS's EV parts plant was completed in Mexico to produce EV relays and battery disconnect units to supply the North American. SMM expects...

【SMM Analysis】As the holiday approaches, the electrolyte market has seen light trading and stable prices.

[TianNa Technology's financing is in place, and the production base for negative electrode materials has been completed]

SMM2 News on February 2nd: According to market sources, Tesla, a leading global company in new energy vehicles and energy storage, is planning to purchase production equipment from CATL (Contemporary Amperex Technology Co. Limited) to expand its battery factory in Sparks, Nevada, USA. It is worth noting that Tesla will purchase equipment from CATL, and will bear all the costs of operating and purchasing activities of the entire factory. CATL's employees will only provide technical support such as equipment and production line installation and debugging, and will not be heavily involved in the overall operation of the factory.

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