Latest Update in the SMM Chemical Compound Market

Bikita mining project in Zimbabwe has successfully reached the targeted production capacity for two production lines—one with an annual output of 2 million tons of spodumene and another with an annual output of 2 million tons of petalite.

According to the agreement, Lead Intelligent Equipment will provide ABF Company with a lithium battery smart production line service with a total target of 20GWh. It is reported that this is the largest order for lithium battery equipment that a Chinese company has obtained in the United States so far.

On March 19th, lithium carbonate futures declined by 1.84% to 114,950 yuan/ton, while spot prices remained steady at an average of 112,550 yuan/ton, amidst strategic market adaptability.

A cobalt enterprise stopped production due to force majeure, impacting the supply of cobalt in the market by about 500 tons per month. This has led to a small shortage in the short term, affecting the prices of electrolytic cobalt. The shutdown is expected to last until the end of April, and the market will continue to be monitored.

Due to demands from local communities, the Supreme Court of Catamarca Province in Argentina has ordered the suspension of the expansion construction and permitting for two major projects of the globally renowned lithium producer Arcadium Lithium - the Fenix project and the Sal de Vida project - until comprehensive environmental impact assessments are completed.

As manufacturers resume work in March and prepare for the subsequent 430 grid connection, market transactions gradually recover. Although the current changes in the cost of energy storage cells are small, in the context of excess supply and demand, manufacturer competition may further intensify, and energy storage Battery cell prices may still have room to fall.

On March 18th, lithium carbonate futures increased by 3.00% to 116,900 yuan/ton, with spot prices mildly rising to an average of 112,550 yuan/ton, amidst strategic market adjustments.

The initial term of the agreement is 3 years, with an expiration date of March 10, 2027, replacing the recycling agreement announced by both parties in September 2022.