[Energy Storage: General Motors And US Energy Storage Company Develop Sodium-Ion Battery Technology]

SMM Cobalt Morning Briefing: This week, the cobalt industry chain remained in the doldrums overall, with market transactions generally sluggish. Refined cobalt returned to grinding lower, and despite smelters raising EXW prices to 390,000 yuan/mt, downstream only maintained just-in-time procurement, affected by the summer break and traditional consumption off-season; cobalt intermediate product prices were temporarily stable, while the disagreement between miners holding prices firm and smelters’ low-price procurement remained significant. Demand for cobalt sulphate, cobalt chloride, and Co3O4 all saw no significant improvement, with downstream inventories ample, and restocking may have to wait until after August. Mainstream cobalt powder transaction prices fell to 460,000 yuan/mt, with some low prices reaching 440,000–450,000 yuan/mt. The market remained in a weak stage of seeking a bottom.

[SMM Cobalt-Lithium Morning Briefing: This week, prices in the new energy industry chain continued to diverge. The lithium industry chain was generally weak. The transaction center of lithium ore shifted lower alongside lithium chemical prices, and lithium carbonate fell to around 150,000 yuan/mt. Downstream firms bought the dip at low price levels, but upstream producers held prices firm and held back from selling, intensifying the market tug-of-war. Lithium hydroxide transaction prices declined in tandem, and overall trading remained sluggish. In the cobalt industry chain, demand was weak. Refined cobalt, cobalt sulphate, and cobalt chloride all lacked effective transaction support, while prices of intermediate products and Co3O4 temporarily held steady. Nickel sulphate inventory continued to decline, but downstream stockpiling willingness was insufficient, and prices still faced pressure.]

SMM Cobalt Morning Brief: This week, the cobalt industry chain continued to consolidate on a weak note overall. Refined cobalt traded around 380,000 yuan/mt. Although smelters slightly raised their offers, high inventory and weak end-use demand limited price recovery. The trading center of cobalt intermediate products moved lower. Cobalt sulphate ground lower on a weak note. Transactions of cobalt chloride and Co3O4 were sluggish. Cobalt powder remained under pressure due to the traditional off-season. The pullback in raw material prices dragged down ternary cathode precursors and ternary cathode materials. LCO remained stable with a weak bias. Future market trends still require attention on Q3 restocking and end-use demand recovery.