Latest Update in the China Cobalt Market

According to SMM survey on the domestic major aluminium processing enterprises, their operating rates will vary during the National Day holiday, depending on their orders. Most of the small and medium-sized enterprises will close for 3-7 days for the holiday, while larger ones will take a shorter or even no break.

In August 2022, a total of 915,000 new energy vehicles were sold globally, an increase of 8% month-on-month and a year-on-year increase of 76%. The sales in the first eight months of 2022 totalled 5.965 million units, a year-on-year increase of 72%.

China exported 15,464 mt of precursors of cathode active materials (including NCA) in August, 2022, a month-on-month decline of 3.9% and a year-on-year increase of 45%.

 Steel mills issued bids for SiMn alloy before the National Day holiday due to recovering end demand and low SiMn alloy inventory.

SHANGHAI, Sep 29 (SMM) - In compliance with the Energy Efficiency Management Plan for Energy Consumption Industries from September 2022 to May 2023 formulated by relevant departments of Yunnan Province, yellow phosphorus enterprises in Yunnan shall reduce or stop their production in an all-round way from 0:00 on September 26.

Hence market transactions have been quite active recently, fuelling lithium carbonate prices. However, the top-tier downstream manufacturers have higher bargaining power in the spot market, and there is still certain room for gaming.

SMM believes that with the development of lightweight automobiles in the future, more aluminium extrusion will be used in the automotive industry. The consumption of aluminium extrusion related to new energy vehicles will increase sharply in 2025-2030, and companies need to deploy related production lines in advance.

SHANGHAI, Sep 29 (SMM) - The quotations of graphitization plants have been chaotic recently.