EcoPro BM Anuncia Resultados do 2T

July 31 report: North China ports: 46% Australian lumps 40.5-41 yuan/mtu, down WoW; South African semi-carbonate 33.5-34 yuan/mtu, down WoW; Gabonese 38.3-38.7 yuan/mtu, down WoW; South African high-iron 28.8-29.3 yuan/mtu, down WoW; South African medium-iron 36-36.5 yuan/mtu, flat WoW. South China ports: 46% Australian lumps 42.9-43.4 yuan/mtu, flat WoW; South African semi-carbonate 36.5-37 yuan/mtu, down WoW; Gabonese 41.1-41.6 yuan/mtu, up WoW; South African high-iron 31.2-31.7 yuan/mtu, down WoW; South African medium-iron 38-38.5 yuan/mtu, flat WoW. Manganese ore prices continue to grind lower, end-use demand remains weak, and it is common for traders to sell at lower prices.

[SMM Analysis] The demand along the LFP industry chain continues to rise, but the response from the supply side is significantly lagging. The most notable feature of the current market is that supply tightness is rapidly transmitting from the bottom up, forming a cascading inversion of "battery cell production schedule > LFP cathode production schedule > iron phosphate production schedule," with the slow release of LFP capacity and the iron phosphate industry segment having become the most prominent bottleneck in the entire chain.