Latest Update in the SMM Cobalt Market

Three critical minerals - gallium, germanium, and antimony - have been banned from being exported to the United States by China in an escalation of trade tensions. The decision, unveiled on December 3, 2024, comes just a day after Washington imposed new restrictions targeting China’s semiconductor sector, signalling an intensifying rivalry between the world’s two largest economies.

On December 4, the most-traded lithium carbonate 2501 contract fell by 2.49%.

Chinese EV giant BYD has launched what it claims to be the "world's first high-performance" sodium-ion battery energy storage system (BESS) product, utilizing its proprietary long blade battery cells.

The European Commission launched two new calls for proposals on December 3, 2023, aiming to promote the promotion of sustainable energy technologies in Europe, including lithium-ion batteries, energy storage technologies and hydrogen energy. Relevant investments will mainly be financially supported through the EU Innovation Fund, and member states will be encouraged to participate in investment in the form of state aid. This proposal will provide important financial support for local European companies. SMM believes...

Since 2015, NEV sales in China have shown explosive growth, and the installed capacity of power batteries has risen accordingly.

In the power battery industry chain, the power battery PACK belongs to the midstream segment.

Recently, with the recovery of the power battery consumption market and the strong growth in demand in the energy storage sector, the LFP industry has ushered in a new wave of growth.

As the year-end approaches, major LFP cathode suppliers are expected to initiate a new round of negotiations and bidding for 2025.