[SMM Analysis] May 2026: China lithium hydroxide imports 3,932t (-41% MoM, +4x YoY), exports 3,549t (-36% MoM & YoY).

Cangzhou Mingzhu announced that the remaining production lines of its downstream subsidiary Wuhu Separator's "200 million sq m/year wet-process lithium-ion battery separator project" and Mingzhu Lithium Battery's "500 million sq m/year dry-process lithium-ion battery separator project" have been fully put into operation. With a combined annual capacity of 700 million square meters, these two projects will significantly boost the company's market share and competitiveness in the lithium battery separator industry.

On June 23, Fulin Precision announced that its board of directors has approved a proposal regarding a subsidiary signing a "Project Investment Cooperation Agreement" for a new integrated project producing 200,000 tons of lithium dihydrogen phosphate annually, along with a supporting 100,000-ton thermal-process phosphoric acid project. The project has an estimated total investment of 3 billion yuan and plans to cover an area of approximately 300 mu. The project will be advanced in phases. The lithium dihydrogen phosphate section, covering the process from lithium carbonate to lithium dihydrogen phosphate, is scheduled to be completed and put into production by March 30, 2027. The upstream section, covering the process from lithium concentrate to lithium sulfate, is scheduled to be completed and put into production by September 30, 2027, reaching an annual scale of 200,000 tons.