December 26 news: Northern ports: South African high-iron at 30-30.5 yuan/mtu, flat WoW; South African semi-carbonate at 34-34.5 yuan/mtu, flat WoW; Gabon at 41.9-43.5 yuan/mtu, flat WoW; Australian lumps at 41-41.7 yuan/mtu, flat WoW; South African medium-iron at 37.1-37.6 yuan/mtu, up 0.54% WoW. Southern ports: South African high-iron at 30.3-30.8 yuan/mtu, flat WoW; South African semi-carbonate at 35.7-36.4 yuan/mtu, flat WoW; Gabon at 41.1-42 yuan/mtu, flat WoW; Australian lumps at 41.5-42.2 yuan/mtu, flat WoW; South African medium-iron at 37.2-37.7 yuan/mtu, up 0.27% WoW. The manganese ore market is consolidating at high levels, with cost support from the supply side and regional divergence in demand creating a tug-of-war.

SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM" or "the Company"), as a professional spot market price reporting agency and information provider, has recently noticed the circulation of false information regarding the fairness of SMM's price assessment.

The demand center is shifting upward, structural differentiation is deepening, and the logic of global competition is being reconfigured.

The Middle East and Africa stand at the epicenter of the global energy transition.

Cobalt sulphate prices were flat WoW, nickel sulphate prices were basically flat, while lithium carbonate prices continued to rise sharply. Recently, spot and futures prices for lithium carbonate have continued to climb, with futures posting particularly strong gains. Combined with the arrival of the monthly just-in-time procurement period, LFP black mass prices per % lithium rose WoW in line with higher lithium chemical prices. Upstream grinding enterprises, after observing lithium carbonate supply-demand dynamics and policy developments, have grown relatively optimistic about future prices. Prices have also adjusted in response to futures, showing strong upward momentum. Taking LFP pole piece black mass as an example, current prices stand at 4,300–4,650 yuan/mtu, up WoW. For ternary black mass, nickel and cobalt payables for ternary pole piece black mass currently range from 76% to 78%, up 0.5% WoW, while lithium payables are between 74% and 77%, up 1.5% WoW. The main reason is this week’s rise in lithium carbonate prices, coupled with relatively limited LCO black mass supply. Most enterprises currently hold limited cobalt inventory, and after clearing out old stock, have had to purchase new material from smelters, driving prices upward. The increase in lithium carbonate costs is gradually being passed through to the ternary and LCO segments, lifting both payables and prices for ternary and LCO black mass.