This week, LCO market prices were basically stable, with mainstream quotations for conventional grades remaining above 400,000 yuan/mt, while high-voltage products held firm at the 420,000 yuan/mt threshold. Affected by the traditional off-season for consumer electronics in Q1 and disruptions in chip supply, battery cell manufacturers currently had relatively sufficient raw material inventory, and purchase willingness declined further WoW. Market transactions were mainly driven by the execution of existing long-term contract and rigid demand, with limited release of new orders. Against the backdrop of rangebound fluctuations in upstream raw materials and downstream demand yet to recover, LCO prices were expected to remain largely stable in the short term, with most market participants adopting a wait-and-see attitude pending further clarity on the subsequent demand pace. Wang Cong 021-51666838 Ma Rui 021-51595780 Feng Disheng 021-51666714 Lv Yanlin 021-20707875 Zhou Zhicheng 021-51666711 Zhang Haohan 021-51666752 Wang Zihan 021-51666914 Wang Jie 021-51595902 Xu Yang 021-51666760 Yang Lianting 021-51595835 Wang Zhaoyu 021-51666827

This week, the Co3O4 market continued to operate steadily, with overall trading activity remaining relatively subdued. Quotations from mainstream enterprises still held firm at around 370,000 yuan/mt, supported by tight inventory of cobalt intermediate products on the cost side, which remained resilient. However, demand-side performance was even more mediocre WoW, as the procurement pace at downstream LCO material plants slowed down further, with most adopting produce based on sales and restocking only as needed, while inquiry and transaction sentiment cooled slightly. Amid the continued tug-of-war between suppliers holding prices firm and buyers remaining cautious, the market still lacked clear directional guidance in the short term. Prices were expected to remain largely stable, with limited room for fluctuations.

Raw material side, spot lithium carbonate prices fluctuated this week, cobalt sulphate prices remained temporarily stable, and nickel sulphate prices dropped slightly.

[SMM Weekly Review of the Lithium Battery Electrolyte Market: Electrolyte Prices Remained Temporarily Stable This Week (2026.3.16-3.19)] From March 16 to March 19, 2026, electrolyte prices remained temporarily stable. Considering the overall trend in cost-side changes and the supply-demand pattern, electrolyte prices are expected to remain temporarily stable in the short term.

This week, China's manganese-based battery materials market showed a differentiated operating trend: battery-grade Mn3O4 prices dropped back slightly, EMD prices edged up slightly, and LMO remained in a weak balance amid the tug-of-war between sellers and buyers. Although the three major products showed different trends, all were supported by the cost side. Overall, the market was mainly stable in the short term, with limited room for wild swings, as the industry gradually transitioned from the post-holiday resumption period to a phase of steady operations......

On June 14, Foreign Ministry Spokesperson Wang Wenbin announced that as agreed by China and the United States, U.S. Secretary of State Anthony Blinken will visit China from June 18 to 19.