Spot Lithium Carbonate Fluctuated Upward on 3.23-3.26.

On March 25, the commissioning ceremony for the waste battery material recycling project of Guangzhou Youmei Recycling Technology Co., Ltd. was held in Baiyun, Guangzhou. As Guangzhou's first waste battery material recycling project, its commencement of production will provide a stable supply of recycled resources for the new energy industry in South China and across the nation. It also represents a crucial step for GAC Group in perfecting its green industry chain and responding to the national "dual carbon" strategy.

This week, prices in the second-life battery market were generally stable, while the market's structural divergence remained evident. Cost side, trends in various raw materials diverged, with overall costs rising slightly. Lithium carbonate prices increased, pushing up battery cell recycling and processing costs; nickel sulphate and cobalt sulphate prices remained stable, easing one-sided cost pressure, and costs edged up mildly over the week. Supply side, supply of popular energy storage battery cell models was tight, with limited spot availability; conventional models were sufficiently available, and no broad-based shortage emerged in the market. Demand side, the gap between energy storage and the EV market remained wide. Demand in the EV sector stayed sluggish, with low purchasing enthusiasm and insufficient support for prices; energy storage demand remained the mainstay of the market, with stable rigid demand. However, prices were currently at high levels, downstream purchasing became more rational, willingness to purchase at high prices declined, and further price increases were currently facing resistance.

Vietnamese steelmaker Hoa Phat Group has officially launched the second phase of a massive rooftop solar project at its Dung Quat steelmaking complex to enhance energy self-sufficiency and lower carbon emissions. This 22.5 MWp installation spans rolling mills, the hot-rolled coil production unit, and warehouses, generating roughly 32.8 million kWh annually. Set for full completion across five phases by the second quarter of 2027, the $22.7 million initiative will reach a total capacity of 79.2 MWp, cutting carbon emissions by more than 78,000 metric tons per year and improving the mill's export competitiveness in carbon-regulated markets like the EU.

Leading Indian steel manufacturer JSW Steel is set to commission a state-of-the-art blast furnace at its Dolvi Works facility in Maharashtra by the end of March 2026. Partnering with SMS group and Paul Wurth, the new furnace is designed to produce 4.5 million tonnes of hot metal per year and incorporates advanced technologies for carbon footprint reduction, including hot syngas and coke oven gas injection. This expansion is part of JSW's strategic roadmap to increase its total domestic steel production capacity from 34.2 MTPA toward a goal of 50 MTPA by 2030.

According to Open Access Government, Canada Nickel Company is pioneering net-zero mining at its Crawford Project by integrating carbon mineralization directly into its workflow. The site, expected to produce over 48,000 tonnes of nickel and 500,000 tonnes of 304-grade stainless steel annually, utilizes ultramafic rocks to permanently sequester CO2. Through patent-pending In-Process Tailings (IPT) carbonation and a recent successful in-situ underground pilot funded by the US DOE, CO2 is converted into stable carbonate minerals. This dual approach not only offsets emissions but naturally fractures the rock, lowering energy and grinding costs. This positions Crawford as a scalable template for a net-zero industrial cluster, turning carbon management into a core value driver.