[summary of the Internal Morning meeting of Cobalt Lithium New Energy] the warming trend in the terminal market is obvious that the price of cobalt and lithium is strong.

SMM, Oct. 15:

Battery terminal market:

According to the SMM new energy database, the output of new energy vehicle certificates in September was 140000, up 31.7% from the previous month and 81.9% from the same period last year. The passenger car market is growing significantly, and the market is picking up better. The installed capacity of power batteries was 6.6GWH, up 66.2% from the same period last year and 28.2% from the previous month. The increase in the installed capacity of iron-lithium batteries in passenger cars in September was mainly due to a substantial increase in BYD's "Han" production, superimposed by SAIC-GM Wuling this month to increase the proportion of iron-lithium installed in the Ningde era. in addition, Chery Automobile, SAIC, Hezhong New Energy and other car companies also have a substantial increase in iron and lithium installation.

Price of upstream raw materials:

Cobalt: the downstream demand remains high from September to October, and cobalt sulfate and cobalt tetroxide are in short supply. The spot quotation for cobalt intermediate products has been raised, and the transaction is sporadic. The price of electrolytic cobalt is lowered, and the supplier is willing to ship goods, but the order is less. The overall stabilization of cobalt prices is obvious, pay attention to the changes in downstream demand, the post-holiday market is more optimistic, do not rule out the possibility of price increase.

Lithium: yesterday, industrial-grade lithium carbonate increased by 500 yuan / ton, and battery-grade lithium carbonate increased by 1000 yuan / ton. Since late September, domestic lithium carbonate production has fallen by about 10%, downstream demand for lithium iron phosphate and lithium manganate has increased by about 10%, and the structure of supply and demand has improved. Jiangxi quasi-electric carbon supply tightened, superimposed downstream procurement demand increased, spot transaction prices increased. The increase in the price of electric carbon is mainly concentrated in Sichuan and Jiangxi, with some spot transaction prices reaching 43000 yuan / ton, but it has not yet reached the mainstream trading volume. As production picks up in October, supply shortages are expected to ease, making it more difficult for lithium carbonate prices to rise. In terms of lithium hydroxide, the accumulation of lithium hydroxide in September is serious, and the cost support price is strong.

Cathode materials and precursors: in terms of ternary materials and precursors, the recent market turnover is not high, the price of raw materials is relatively stable, and the prices of precursors and materials remain relatively unchanged. The rise in demand in the power market in September led to a month-on-month increase of more than 15% in the output of ternary materials and precursors, and a steady growth rate is expected in October. In terms of iron and lithium, the price of lithium salt has risen slightly, and the demand in the power market has increased significantly. Some large factories are close to full production, but the downstream is more strict in controlling the cost of iron and lithium, and the price continues to be under pressure.

Nickel: after the festival, the tight supply of nickel sulfate gradually eased, mainly due to the increase in the autolysis of nickel beans in downstream enterprises, in addition, traders hoarding nickel sulfate have begun to ship in bulk. This week, the trading price of battery-grade nickel sulfate crystal with account period is in the range of 2.7-27500 / ton, and the trading volume is higher than that before the festival.

News:

1. [Tesla plans to enter the Indian market in January next year or launch order configuration function] on Monday, Tesla CEO Elon Musk said on Twitter that Tesla may open an order configurator in India in January next year, which may mark the beginning of Tesla's entry into the Indian market.

2. [Honda calls on the British government to support hybrid vehicles rather than pure electric vehicles] Honda called on the British government not only to focus on electric vehicles, but to re-examine the importance of hybrid vehicles. The company believes that pure electric cars are not a panacea and should not completely replace fuel-powered engines by 2035.

3. [Ningde Times and Shanghai Jiaotong University signed an agreement to jointly build a joint research center] on October 12, Ningde Times and Shanghai Jiaotong University signed a cooperation agreement on the Minhang campus of Shanghai Jiaotong University, and the two sides will jointly build a joint research center on clean energy technology. According to the agreement, the two sides will jointly build a joint research center on clean energy technology, deploy in conjunction with major national strategic tasks, target international cutting-edge technology development, gather high-end innovation resources, and establish a cooperation platform for "research and innovation" and "personnel training". On this basis, it will become an important carrier for the transformation of key common technological achievements in clean energy science and technology and a highland of industry-university-research joint innovation.

SMM battery materials research team

Huo Yuan 021-51666898

Mei Wangqin 021-51666759

Liu Xiaoyi 021-51666716

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