Latest Update in the China Lithium Market

LB Group held a meeting on November 29 to deliberate and approve the "Proposal on the Investment and Construction of an Integrated Project of 200,000 mt of Lithium-ion Battery Anode Materials".

Yunnan Yuntianhua Co. announced to invest in the construction of a 500,000 mt/year iron phosphate battery new material precursor and supporting projects in the Caopu Chemical Park, Anning Industrial Park, Anning City, Yunnan Province. The overall project investment is estimated to be 7.286 billion yuan.

Imports of cobalt intermediate products were 5,166 mt in metal content in October (calculated at 27% grade), down 30% MoM.

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According to customs data, China imported 5,399 mt of cobalt raw material in metal content in October, a month-on-month decrease of 31% and year-on-year decrease of 49%. The imports totalled 73,700 mt in metal content from January to October, up 3% YoY Imports of cobalt ore were 69 mt in metal content in October (calculated at 8% grade), down 56% MoM and 58% YoY.

It is estimated that new projects and capacity ramp-up will expand the output of spodumene concentrates to xxx mt LCE by 2025, with a compound annual growth rate of xx%. Among them, the output in Australia accounts for xx%, and that in Africa accounts for xx%.

Great Power plans to build a smart energy storage and motive power battery manufacturing base in the ecological zone of Liuzhou City, Guangxi. The main layout is lithium battery cells and PACK production lines.

Hyundai’s global sales fell 21% year-on-year to 307,039 vehicles in October due to chip shortages and the pandemic, according to foreign media.