Around May 20, import and export data for cobalt and lithium battery industry chain-related products in April were released. The data showed that in April, China's domestic spodumene imports totaled 623,000 mt, up 16.5% MoM, equivalent to 54,000 mt of LCE. Among them, lithium ore imports from Zimbabwe amounted to 106,000 mt, up 82% MoM. For lithium carbonate, China imported 28,000 mt in April, up 56% MoM and 34% YoY. Among these imports, 20,000 mt came from Chile, accounting for 71% of the total imports. In April, China exported 734 mt of lithium carbonate, up 334% MoM and 213% YoY. SMM has compiled the import and export situation of battery materials as follows: Upstream Lithium Concentrates According to data from the General Administration of Customs, in April, China's domestic spodumene imports totaled 623,000 mt, up 16.5% MoM, equivalent to 54,000 mt of LCE. Specifically, Australia, Nigeria, and Zimbabwe were the main sources of imports. Among them, lithium ore imports from Australia amounted to 298,000 mt, down 3% MoM; imports from Zimbabwe amounted to 106,000 mt, up 82% MoM; and imports from Nigeria amounted to 89,000 mt, up 4% MoM. Imports from South Africa amounted to 40,400 mt, down 22% MoM, a significant decrease. In addition, the volume of spodumene concentrates in April was 520,000 mt, accounting for 83% of the total ore imports, mostly from countries such as Australia and Zimbabwe. Data source: China Customs, SMM's processed data based on public information Note: It may not be possible to fully and accurately account for the actual monthly spodumene concentrate imports from customs data, and some data are only reported in terms of the general direction of import volumes. [SMM Analysis] In April, China's domestic spodumene imports totaled 623,000 mt, up 16.5% MoM Returning to the current lithium ore market, on the spodumene side, according to SMM, on the supply side, although overseas mines have a certain willingness to refuse to budge on prices, due to their shipping pressure, their quotes have been adjusted downward. On the demand side, as the current lithium chemical prices are at a relatively low level, the psychological price level of buyers continues to decline, and their purchase willingness for lithium ore priced at CIF US$650/mt or above is not strong. When the current spot and futures prices of lithium carbonate are falling, demand continues to push down prices during negotiations, and the willingness to close deals is relatively moderate. This week's lithium ore import customs data showed that in April, China's domestic spodumene imports exceeded 600,000 mt, with a significant MoM increase, equivalent to over 50,000 mt of LCE. Coupled with the high inventory levels at ports in recent months, traders and mine operators are under certain pressure to sell, enhancing buyers' bargaining power. With lithium carbonate prices remaining low, there is an expectation of weakness in lithium ore prices. As of May 23, the spot quotation index for spodumene concentrates (CIF China) fell to $690/mt, down $127/mt from $817/mt on April 1, representing a 15.54% decline. 》Click to view SMM's spot quotations for new energy products Lithium Carbonate According to customs data, China imported 28,000 mt of lithium carbonate in April, up 56% MoM and 34% YoY. Of this, 20,000 mt was imported from Chile, accounting for 71% of the total imports, and 6,850 mt was imported from Argentina, accounting for 25% of the total imports. From January to April, China's cumulative imports of lithium carbonate reached 79,000 mt, up 27% YoY. In April, China exported 734 mt of lithium carbonate, up 334% MoM and 213% YoY. Reviewing the current lithium carbonate prices, according to SMM's spot quotations, as of May 23, the spot quotation for battery-grade lithium carbonate temporarily held steady at 61,600-64,500 yuan/mt, with an average price of 63,050 yuan/mt, down 11,050 yuan/mt from 74,100 yuan/mt in early April, representing a 14.91% decline. 》Click to view SMM's spot quotations for new energy products Reviewing the lithium carbonate market in April, downstream power demand performed well, but was constrained by the impact of the cancellation of mandatory ESS allocation in China and US tariff policies, limiting the overall increase in demand. Additionally, with the increase in the proportion of customer-supplied raw materials at downstream material plants, their willingness to purchase spot orders weakened. Supply side, the continuous decline in prices led some non-integrated lithium chemical plants to reduce or halt production, but the impact was limited in scale. Lithium carbonate remained in a state of surplus that month, with the surplus scale narrowing somewhat. Looking at the current situation, according to SMM, from the supply side, some enterprises have shown signs of maintenance and production cuts, with weekly output scales weakening. However, under the hedging opportunities presented by the slight rebound in the futures market, some non-integrated lithium chemical plants are expected to resume production or show signs of increasing output. Overall, while the reduction in output due to maintenance has exerted some pressure on the total output of lithium carbonate, overall supply is expected to remain at a relatively high level. Although downstream demand also saw some increase in May, due to the currently large proportion of customer-supplied and long-term contracted materials, and with the continuous decline in lithium carbonate prices, downstream material plants are generally adopting a cautious wait-and-see attitude, making it difficult for spot order transactions to support market confidence. From the perspective of the raw material ore side, prices have also continued to decline, and no mines have announced production cuts or halts. With the continuous weakening of cost support, lithium carbonate prices lack upward momentum. Against the backdrop of an unchanged surplus in supply and demand, SMM expects the lithium carbonate market to remain under pressure in the short term. Lithium hydroxide According to customs data, China's lithium hydroxide exports reached 4,222 mt in April, remaining basically flat MoM and decreasing by 61% YoY. Of this, exports to South Korea amounted to 2,047 mt, accounting for 48% of China's total exports, decreasing by 6% MoM and 72% YoY. Exports to Japan reached 1,756 mt, accounting for 42% of China's total exports, decreasing by 7% MoM and 40% YoY. The average export price of lithium hydroxide from China in April was $14,297/mt, up 8% MoM. Since the beginning of 2025, weak overseas downstream demand, coupled with the partial transfer of overseas lithium hydroxide orders for domestic shipments, has led to a sustained low level of exports. Additionally, China's lithium hydroxide imports in the same month amounted to 1,276 mt, decreasing by 35% MoM. Of this, imports from Australia and Argentina amounted to 1,094 mt, accounting for 86%, primarily due to the sales of inventory and output from Chinese-funded smelters in Australia and the production from salt lakes in Argentina. Data source: General Administration of Customs, compiled by SMM 》【SMM Analysis】China's lithium hydroxide exports reached 4,222 mt in April, basically flat MoM Battery materials LFP According to the latest data from the General Administration of Customs, China's LFP exports amounted to 1,151.7 mt in April 2025, decreasing by 16% MoM from March and increasing by 1,724% YoY. In terms of prices, the average export price of LFP in March 2025 was $6,206.9/mt, up $315.55/mt from the average price in March, representing a MoM increase of approximately 5.4%. In the import data of the General Administration of Customs for April 2025, Guangxi Zhuang Autonomous Region remained the top province for LFP exports, with 968.5 mt, all exported to Vietnam. Hubei Province ranked second with 59.454 mt, and Anhui Province ranked third with 30 mt. In terms of country-specific export data for LFP in April 2025, Vietnam remained the top export destination, with a total of 968 mt of LFP exported to Vietnam, accounting for 84% of total exports. South Korea ranked second with 7%, and Taiwan, China ranked third, with 63 mt of LFP exported to Taiwan, China, accounting for 5.5% of total exports. There were also exports to France, Italy, the US, Greece, etc. Additionally, according to China's customs import data, China's LFP imports in April amounted to 8.6 mt, decreasing by 58% MoM, primarily imported from Indonesia, with an average import price of $5,345.6/mt. 》【SMM Analysis】China's LFP import and export situation in April Ternary cathode In April 2025, China's imports of ternary cathode materials (combined NCM+NCA) amounted to 6,158 mt, increasing by 36.73% MoM and decreasing by 17.58% YoY. Among them, NCM imports reached 5,170 mt, up 28.48% MoM and down 16.21% YoY. NCA imports stood at 988 mt, up 105.94% MoM and down 24.07% YoY. In April 2025, China's exports of ternary cathode materials (combined NCM and NCA) amounted to 9,356 mt, up 13% MoM and up 30% YoY. Among them, cumulative NCM exports reached 9,058 mt, up 11.31% MoM and up 30.86% YoY. The recovery in overseas demand was mainly reflected in South Korea, Japan, and Poland. Exports to South Korea in April were 4,725 mt, up 104 mt MoM. Exports to Japan were 1,016 mt, up 349 mt MoM. Exports to Poland were 1,539 mt, up 349 mt MoM. NCA exports were 298 mt, up 90.29% MoM and down 0.71% YoY. 》[SMM Analysis] April's ternary cathode import and export volumes released, with imports up 37% MoM and exports up 13% MoM Ternary cathode precursor In April 2025, China's exports of ternary cathode precursors reached 7,511 mt, up 7% MoM and down 60% YoY. From May 2024 to April 2025, China's cumulative exports of ternary cathode precursors (including NCM, NCA, nickel oxides, and NC) were 141,523 mt, down 16.70% YoY. In April, the overall export volume of ternary cathode precursors increased compared to March. Among them, the export volumes of NCM and NC rebounded, while the export volume of NCA decreased significantly. The total NC exports in April were 2,580 mt, up 20.56% MoM and down 33.13% YoY. NCA exports in April were 0 mt. In addition, the total NCM exports in April were 4,931 mt, up 1.69% MoM and down 65.62% YoY. By country, South Korea remained China's main export destination for NC in April, though its share decreased slightly to 90%, with export volume increasing from 1,605 mt the previous month to 2,331 mt. The volume of NCM flowing to South Korea decreased from 4,546 mt the previous month to 4,426 mt. 》[SMM Analysis] Analysis of ternary cathode precursor exports in April Artificial graphite In April 2025, China's imports of artificial graphite were 1,128 mt, up 10% MoM and up 1% YoY. In terms of average import price, in April 2025, the average import price of artificial graphite in China was 66,270 yuan/mt, up 219% MoM and down 8% YoY. Data source: SMM, China Customs In April 2025, China's exports of artificial graphite were 58,170 mt, up 30% MoM and up 19% YoY. In terms of average export price, in March 2025, the average export price of artificial graphite in China was 9,190 yuan/mt, down 13% MoM and down 32% YoY. In April 2025, against the backdrop of domestic coke prices not yet falling to low levels, domestic anode material enterprises showed low production enthusiasm, and domestic supply was slightly tight. As a result, the import volume of artificial graphite increased MoM. On the export side, affected by tariffs, the volume of artificial graphite exported to the US in April decreased by 29% MoM. Except for the US, the import volume of artificial graphite from China by other countries all increased to varying degrees. 》[SMM Analysis] In April, the import and export volumes of artificial graphite both increased MoM. LiPF6 According to data from China Customs, in April 2025, China's cumulative export volume of LiPF6 was 1,217 mt, a decrease of approximately 23% MoM. Among them, China's cumulative import volume of LiPF6 was 0 mt. On the export side, in April 2025, China's export volume of LiPF6 was 1,217 mt, a decrease of approximately 23% MoM from March and approximately 41% YoY. Specifically, 371.404 mt of LiPF6 was exported to Poland, an increase of approximately 48% MoM; 225 mt was exported to Hungary, an increase of approximately 66.7% MoM; 171.212 mt was exported to South Korea, a decrease of approximately 41% MoM; and 107.847 mt was exported to the US, a significant decrease of approximately 78.7% MoM. Overall, there was a certain decrease in the procurement volume of raw materials for lithium batteries by foreign countries in April, and overseas demand for lithium batteries declined. 》[SMM Data] Import and Export Data of LiPF6 in April 2025 Cobalt Cobalt hydrometallurgy intermediate products According to customs data, in April 2025, China's import volume of cobalt hydrometallurgy intermediate products was approximately 18,600 mt (metal content), an increase of 5% MoM. In terms of average import prices, in March 2025, the average import price of cobalt hydrometallurgy intermediate products in China was $15,820/mt (metal content). By country, in March, the DRC remained the main importing country, with an import volume of approximately 18,500 mt (metal content) (calculated based on a grade of 35%), an average import price of $15,857/mt (metal content), and an import share of approximately 99%. 》[SMM Analysis] In April, the import volume of cobalt intermediate products increased slightly. Unwrought cobalt In April 2025, China's import volume of unwrought cobalt was approximately 839 mt (metal content), an increase of 60% MoM and 230% YoY. In terms of average import prices, in April 2025, the average import price of unwrought cobalt in China was $26,831/mt (metal content), an increase of 36% MoM. From January to April 2025, the cumulative import volume was 2,337 mt (metal content), a cumulative increase of 175% YoY. On the export side, in April 2025, China's export volume of unwrought cobalt was approximately 4,086 mt (metal content), an increase of 201% MoM and 556% YoY. In terms of average export prices, the average export price of China's unwrought cobalt in March 2025 was $31,119/mt (metal content), up 28% MoM. The cumulative export volume from January to April 2025 was 7,397 mt (metal content), up 185% YoY. 》[SMM Analysis] Both China's unwrought cobalt exports and imports saw significant growth in April 2025.

[SMM Analysis: Both Import and Export Volumes of Artificial Graphite Increased MoM in April] SMM reported on May 20: In April 2025, China's imports of artificial graphite reached 1,128 mt, up 10% MoM and up 1% YoY. The average import price...

India Proposes Zero Tariffs on Certain Quantities of US Auto Parts and Steel In trade negotiations with the US, India proposed zero tariffs on certain quantities of steel, auto parts, and pharmaceuticals on a reciprocal basis. (Cailian Press) Tariff Policy to Drive Up Prices of New and Used Cars in the US, Repair Costs Also to Increase The New York Times reported on the 3rd that the US's 25% tariff on imported auto parts could significantly raise the prices of new and used cars, as well as repair and insurance costs. The report stated that tariffs on imported auto parts would have a broad impact, as even cars made in the US often have engines, transmissions, batteries, and other components produced in other countries. Trump's tariff policy has already driven up new car prices, as consumers rushed to dealers to buy cars before the tariffs took effect. The tariff policy has also affected the used car market, as more people are seeking affordable alternatives to new cars, increasing demand and prices. Tariffs on auto parts are expected to raise repair costs and insurance premiums, as replacing auto parts will become more expensive. Rising car prices will exacerbate inflation. (Cailian Press) US Tariff Policy Disrupts Domestic Companies, Several US Firms Suspend Profit Forecasts According to CNN on May 4, due to the erratic nature of recent US tariff policies, several major global automakers have delayed or suspended profit forecasts. The report stated that automaker Stellantis Group released a report on April 30, indicating that it has suspended its 2025 profit growth forecast due to the impact of "changing" tariff policies. Previously, General Motors also issued a statement on April 29, withdrawing its 2025 profit growth expectations due to the potential impact of US tariff policies. (Cailian Press) BYD: NEV Sales Reach 1.3809 Million Units in the First Four Months, Up 46.98% YoY BYD announced on May 5 that its NEV sales in April 2025 reached 380,100 units, up 21.33% YoY. From January to April 2025, the company's cumulative NEV sales reached 1.3809 million units, up 46.98% YoY. (Cailian Press) Ford Motor Company Expects Tariffs to Cause $1.5 Billion Loss Ford Motor's adjusted EPS for Q1 was $0.14, while analysts expected a loss of $0.043 per share. Ford Blue's revenue for Q1 was $21 billion, compared to analysts' expectations of $20.08 billion. Ford Blue's EBIT for Q1 was $1.2 billion, compared to analysts' expectations of $1.22 billion. The company expects to suffer a $1.5 billion hit from tariffs this year and has suspended its 2025 performance forecast. (Cailian Press) "Labour Day Holiday" Sees Over 3 Million Applications for Car Trade-In Subsidies Nationwide According to the Ministry of Commerce, the national consumer market was vibrant and active during the 2025 Labour Day holiday. Data from the Ministry of Commerce's business big data monitoring showed that sales at key retail and catering enterprises nationwide increased by 6.3% YoY during the holiday. Trade-in programs were particularly popular. From the beginning of 2025 to 0:00 on May 5, applications for car trade-in subsidies exceeded 3 million. Consumers purchased 55.16 million units of 12 major categories of home appliances through trade-in programs and 41.67 million pieces of digital products such as mobile phones. In the first four days of the holiday, applications for car trade-in subsidies exceeded 60,000, driving new car sales of 8.8 billion yuan. Consumers purchased 3.56 million units of 12 major categories of home appliances, driving sales of 11.9 billion yuan, and 2.42 million pieces of digital products such as mobile phones, driving sales of 6.4 billion yuan. During the holiday, sales of home appliances, cars, and communication equipment at key retail enterprises monitored by the Ministry of Commerce increased by 15.5%, 13.7%, and 10.5% YoY, respectively. Sales of smart home products on key e-commerce platforms monitored by the Ministry of Commerce increased by over 20% YoY. Service consumption continued to heat up, with the catering and cultural tourism markets thriving. According to business big data monitoring, sales at key catering enterprises nationwide increased by 8.7% YoY during the holiday. (Cailian Press) Related Reading: SMM Analysis: Spot Prices of Refined Cobalt Strengthen SMM Analysis: Spot Prices of Cobalt Intermediate Products Rise SMM Analysis: Economic Viability of Refined Cobalt Production Declines, April Production Down MoM SMM Analysis: April Lithium Hydroxide Production Stable but Weak, May Expected to Remain Flat SMM Analysis: April Ternary Precursor Production Up 0.36% MoM SMM Analysis: April Ternary Cathode Material Production Up 7.38% MoM SMM Analysis: Between Advance and Retreat: The Realistic Compromise of US Auto Tariff Compensation Policy and the Challenges of Global Industry Chain Restructuring SMM Analysis: April Iron Phosphate Market Stable, Companies Under Pressure, Prices Difficult to Raise Lithium Drives the Green Revolution: Analyzing the Reshaping of the Energy Future in the Industry Chain [SMM Science] SMM Analysis: Driven by LCO Market Demand, April Co3O4 Production Significantly Increased MoM Q1 Auto Industry Starts with Double-Digit Growth in Production and Sales, What to Expect in Q2 Under Tariff Pressure? [SMM Special] SMM: Global ESS Market Demand May Reach Around 470GWh by 2030, How Will Each Market Perform? March Battery Material Import and Export Data Released: Spodumene and Lithium Carbonate Imports Show Mixed Performance [SMM Special] Spot Quotations for Refined Cobalt Continue to Rise, High Raw Material Costs Lead to Production Cuts at Some Smelters, This Cobalt Salt Price May Remain Firm [Weekly Observation] SMM Analysis: A Review of This Week's Scrap Spot Price Trends (April 21-27, 2025) SMM Manganese Ore Weekly Review: Market Purchasing Sluggish, Spot Prices Under Pressure SMM Analysis: Weekly Review of the Lithium Carbonate Market: Demand Falls Short of Incremental Expectations, Weekly Drop Exceeds 1,000 Yuan! SMM Analysis: Lithium Ore Weekly Market Review, April 21-25 SMM Analysis: Lithium Hydroxide Weekly Market Review, April 21-25 SMM Analysis: Recent Electrolyte Prices (April 21-24, 2025) SMM Analysis: ESS Battery Cell Weekly Price Trends, April 17-24 SMM Analysis: This Week, Co3O4 Spot Prices Slightly Declined SMM Analysis: This Week, Ternary Cathode Material Prices Further Pulled Back SMM Analysis: This Week, Ternary Precursor Prices Rebounded Slightly SMM Analysis: This Week, Refined Cobalt Spot Prices Rose Slightly SMM Analysis: This Week, Cobalt Intermediate Product Spot Prices Remained Stable SMM Analysis: This Week, Cobalt Chloride Prices Slightly Increased SMM Analysis: Cobalt Sulphate Spot Prices Temporarily Stable, Market Sentiment Cautious SMM Analysis: This Week, Power Battery Cell Prices Generally Stable, Ternary System Demand Under Pressure, Lacks Momentum SMM Analysis: This Week, Anode Material Prices Maintained a Stable Trend SMM Analysis: This Week, Anode Raw Material Coke Prices Declined to Varying Degrees SMM Analysis: Supply-Demand Pattern and Costs Show No Significant Fluctuations, Graphitisation Tolling Services Prices Stable This Week April 21-25 Iron Phosphate Market Situation [SMM Analysis] SMM Analysis: China's Unwrought Cobalt Exports and Export Prices Rose Significantly MoM in March 2025 SMM Analysis: March Cobalt Intermediate Product Imports Up Both YoY and MoM SMM Analysis: Fast Charging Technology Showdown: CATL vs. BYD SMM Analysis: Zimbabwe's Step Aside Lithium Mine Project Initiates Asset Liquidation: Focusing on Strategic Adjustments and Market Opportunities 2025 (10th) New Energy Industry Expo Concludes Successfully! See Industry Leaders Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, Subsequent Prices Still Largely Affected by Lithium Carbonate [New Energy Summit] SMM Analysis: March Domestic Spodumene Imports Totaled 534,500 mt SMM Data: March 2025 LiPF6 Import and Export Data March Iron Phosphate Material Import and Export Situation [SMM Analysis] SMM Analysis: March Ternary Cathode Import and Export Data Released, Imports Up 31% MoM, Exports Up 36% MoM SMM Analysis: March Market Recovery, Artificial Graphite Exports Increase SMM Analysis: March Ternary Precursor Export Situation Analysis

Around April 20, import and export data for cobalt and lithium battery-related products in March were released. The data showed that in March 2025, domestic spodumene imports totaled 534,500 mt, equivalent to 46,000 mt LCE. Among these, imports from Nigeria amounted to 85,000 mt, up 83% MoM... SMM has consolidated the import and export situation of battery materials as follows: Upstream Lithium Concentrates According to customs data, in March 2025, domestic spodumene imports totaled 534,500 mt, down 6% MoM, equivalent to 46,000 mt LCE. Specifically, imports from Australian mines were 308,000 mt, up 33% MoM; imports from Zimbabwe were 58,000 mt, down 40% MoM; and imports from Nigeria were 85,000 mt, up 83% MoM. Additionally, imports from South Africa were 52,000 mt, down 65% MoM, showing a significant decrease. Furthermore, in March, spodumene concentrate imports amounted to 464,300 mt, accounting for 87% of total ore imports, with most coming from Australia, Zimbabwe, and Nigeria. Data Source: China Customs, SMM processed data based on public information Note: Customs data may not fully and accurately reflect the actual spodumene concentrate imports for the month, and some data is reported only in broad terms. [SMM Analysis] In March, domestic spodumene imports totaled 534,500 mt. Returning to the current lithium ore market, on the spodumene side, according to SMM, although overseas mines are still standing firm on quotes, the continuous decline in lithium carbonate spot and futures prices has led to a lower acceptable price range for buyers. Some suppliers, due to a pessimistic outlook on future market prices, have a strong desire to sell, leading to continuously falling quotes. Although transactions are generally slow, there is a trend of downward pressure on market prices. As of April 25, the spot price index for spodumene concentrate (CIF China) fell to $793/mt, down $43/mt from the high point of $836/mt in mid-March, a decrease of 5.14%. [Click to view SMM new energy product spot prices] On the lepidolite side, the continuous decline in lithium carbonate prices has weakened the purchasing enthusiasm of buyers. Some external lepidolite smelters even have plans to reduce or halt production, leading to a continuous decline in the acceptable price range for lepidolite concentrates. Lithium Carbonate According to customs data, in March 2025, China imported 18,125 mt of lithium carbonate, up 47% MoM and down 5% YoY. Specifically, 12,718 mt, or 70%, was imported from Chile, and 4,646 mt, or 26%, was imported from Argentina. Exports of lithium carbonate in March were 220 mt, still at a low level. Returning to the current lithium carbonate prices, according to SMM spot prices, as of April 25, the spot price for battery-grade lithium carbonate fell to 68,200-71,400 yuan/mt, with an average price of 69,800 yuan/mt, down 4,500 yuan/mt from the high point of 74,300 yuan/mt on March 27, a decrease of 6.06%. [Click to view SMM new energy product spot prices] According to SMM surveys, from the demand side, the expected increase in lithium carbonate demand for May has not been met. When lithium carbonate prices were at a low point earlier, downstream material plants generally stockpiled, so it is unlikely that there will be large-scale pre-holiday stockpiling before Labour Day. From the supply side, some upstream lithium chemical plants have recently reduced or halted production, leading to a decrease in lithium carbonate output. However, overall output remains high, and the surplus situation continues. If the market sentiment shows positive signals, the reduced or halted lithium chemical plants may quickly resume production, making the supply volume highly elastic. In market news, a lithium chemical plant, due to its previously set floor price being broken, is considering adjusting long-term contract shipment volumes. In an extreme scenario, if all long-term contract shipments are terminated, it could cause short-term supply disruptions. However, considering the cumulative inventory levels of domestic lithium carbonate, there is still little upward momentum for spot prices. Additionally, attention should be paid to the price trends of raw materials. If ore prices show a significant downward trend, the cost pressure on non-integrated lithium chemical plants will be somewhat relieved. [Click for more details] Battery Materials LFP According to the latest customs data, in March 2025, China's LFP exports reached a record high of 1,367.8 mt, up 129% MoM and 861% YoY. In terms of price, the average export price of LFP in March 2025 was $5,891.4/mt, up $406.56/mt from February. In March 2025, the top exporting province for LFP was Guangxi Zhuang Autonomous Region, with 906 mt, all exported to Vietnam; Jiangsu Province ranked second with 177.4 mt, and Anhui Province third with 163 mt. In terms of export destinations, Vietnam remained the top country, with a total of 906 mt, accounting for 66.2% of the export volume; Taiwan, China, was second with 195.2 mt; and South Korea was third with 96.3 mt. There were also exports to Poland, France, and Japan. Additionally, according to customs import data, in March, China's LFP imports were 20.54 mt, mainly from Taiwan, China, with an average import price of $18,916.6/mt. [March LFP Material Import and Export Situation [SMM Analysis]] Ternary Cathode Precursor In March 2025, China's ternary cathode precursor exports were 7,033 mt, down 10% MoM and 58.81% YoY. From April 2024 to March 2025, China's cumulative ternary cathode precursor exports (including NCM, NCA, nickel oxides, and NC) were 169,888 mt, down 31.14% YoY. In March, the overall export volume of ternary cathode precursors decreased compared to February. Specifically, NCM and NC exports weakened, while NCA exports increased slightly. The total NC exports in March were 2,140 mt, down 4.59% MoM and 43.71% YoY. NCA exports in March were 45 mt. Additionally, the total NCM exports in March were 4,849 mt, down 12.31% MoM and 61.02% YoY. [March Ternary Cathode Precursor Export Analysis [SMM Analysis]] Ternary Cathode In March 2025, China's ternary cathode material (NCM + NCA combined) imports were 4,504 mt, up 31% MoM and down 32.15% YoY. Specifically, NCM imports were 4,024 mt, up 35.49% MoM and down 23.98% YoY; NCA imports were 480 mt, up 1.11% MoM and down 64.33% YoY. In March 2025, China's ternary cathode material (NCM + NCA combined) exports were 8,294 mt, up 36% MoM and 14.14% YoY. Specifically, NCM exports were 8,138 mt, up 34.65% MoM and 17.15% YoY. The main regions driving the recovery in overseas demand were South Korea and Poland, with exports to South Korea reaching 4,621 mt, up 3,431 mt MoM, and exports to Poland reaching 3,851 mt, up 3,061 mt MoM. NCA exports were 156 mt, up 111.55% MoM and down 51.18% YoY. [March Ternary Cathode Import and Export Volumes Released, Imports Up 31% MoM, Exports Up 36% MoM [SMM Analysis]] Artificial Graphite In March 2025, China's artificial graphite imports were 1,021 mt, down 78% MoM and 8% YoY. In terms of import prices, in March 2025, the average import price of artificial graphite in China was 55,788 yuan/mt, up 211% MoM and down 29% YoY. Data Source: SMM, China Customs In March 2025, China's artificial graphite exports were 44,437 mt, up 108% MoM and down 18% YoY. In terms of export prices, in March 2025, the average export price of artificial graphite in China was 10,610 yuan/mt, down 36% MoM and 23% YoY. Although imports in March 2025 declined compared to the previous month, from a long-term perspective, this month's import scale remains within the normal historical fluctuation range, with no abnormal changes. On the export side, there was a significant increase, with the end of the Chinese New Year holiday leading to a rapid recovery in market demand. This month, artificial graphite exports increased by 108% MoM, indicating a strong recovery. [March Market Recovery, Artificial Graphite Exports Increase [SMM Analysis]] LiPF6 According to China Customs data, in March 2025, China's LiPF6 cumulative exports were 1,577 mt, up about 6.1% MoM, with cumulative imports at 0 mt. In terms of exports, in March 2025, China's LiPF6 exports were 1,577 mt, up about 6.1% MoM and down about 28.4% YoY. [March 2025 LiPF6 Import and Export Data [SMM Data]] Cobalt Cobalt Hydrometallurgy Intermediate Products According to customs data, in March 2025, China's imports of cobalt hydrometallurgy intermediate products were approximately 17,850 mt (calculated at 35% grade), up 20.6% MoM and 5.6% YoY. The average import price in March 2025 was $12,351/mt (metal content). By country, the DRC remained the main import source, with imports of approximately 17,600 mt (calculated at 35% grade), at an average import price of $12,374/mt (metal content), accounting for about 98.5% of total imports. [March Cobalt Intermediate Product Imports Up Both MoM and YoY [SMM Analysis]] Unwrought Cobalt In March 2025, China's unwrought cobalt imports were approximately 525 mt, up 10.5% MoM and 135% YoY. The average import price in December 2024 was $19,711/mt (metal content), down 8.7% MoM. Cumulative imports from January to March 2025 were 1,499 mt, up 152.4% YoY. In terms of exports, in March 2025, China's unwrought cobalt exports were approximately 1,353 mt, up 199% MoM and 37% YoY. The average export price in March 2025 was $24,255/mt (metal content), up 9% MoM. Cumulative exports from January to March 2025 were 68,412 mt, down 24.7% YoY. [March 2025 Unwrought Cobalt Exports and Average Export Prices Up Significantly MoM [SMM Analysis]]

【Ministry of Commerce on China-EU Auto Negotiations: China Willing to Resolve Trade Frictions Through Dialogue】 The Ministry of Commerce held a regular press conference on the afternoon of April 24. Reporter: China and the EU previously agreed to immediately launch negotiations on EV price commitments and discuss investment cooperation in the auto industry. Can the Ministry of Commerce provide an update on the current progress of these negotiations? Spokesperson He Yadong: Following the video meeting between Minister Wang Wentao and EU Trade and Economic Security Commissioner Šefčovič on April 8, the technical teams from both sides have maintained close communication on EV price commitments and trade investment cooperation, and are accelerating the negotiation process. China is willing to work with the EU to properly handle trade frictions through dialogue and consultation, deepen bilateral practical cooperation, and inject more certainty and positive energy into the Chinese, European, and global economies. 》Click for details 【GFEX Adjusts Price Limits and Margin Requirements for Futures Contracts During 2025 Labor Day Holiday】 Starting from the settlement on April 29, 2025 (Tuesday), the price limit for silicon metal futures contracts will be adjusted to 8%, with speculative trading margin requirements set at 10% and hedging margin requirements at 9%. The price limit for polysilicon futures contracts will be adjusted to 9%, with speculative trading margin requirements set at 11% and hedging margin requirements at 10%. The price limit for lithium carbonate futures contracts will be adjusted to 10%, with speculative trading margin requirements set at 12% and hedging margin requirements at 11%. (Cailian Press) 》Click for details 【Tesla’s Q1 Sales in Europe Plunge 45%】 Data released by the European Automobile Manufacturers Association on the 24th shows that new car registrations in the EU fell 1.9% YoY in the first three months of this year. The market share of EVs and hybrid vehicles continued to expand, while the share of traditional internal combustion engine vehicles shrank significantly. Data shows that gasoline car registrations fell 20.6% YoY to 779,000 units, accounting for 28.7% of the market. Diesel car registrations dropped 27.1%, with market share falling to 9.5%. Pure EV registrations rose 23.9% to 413,000 units, accounting for 15.2% of the market, up from 12% in the same period last year. Data shows that Tesla’s new car sales in Europe fell 45% YoY in Q1. (Cailian Press) 【China’s First Industry Standard for Safe Maritime Transport of Lithium Batteries to Take Effect in May】 Li Ying, spokesperson for the Ministry of Transport, stated at a press conference that the "Technical Requirements for the Safe Transport of Lithium Batteries by Ships" will take effect on May 1. The standard, consisting of 10 parts, 5 informative appendices, and 2 normative appendices, is China’s first industry standard for the safe maritime transport of lithium batteries. Compiled under the leadership of the Maritime Safety Administration of the Ministry of Transport, the standard integrates input from producers, testing agencies, port and shipping companies, and incorporates China’s experience and practices in lithium battery transport. It addresses gaps in existing international and domestic technical standards, ensuring safe and compliant transport of lithium battery products while resolving challenges in transport classification, labeling, and packaging for relevant production and transport companies. This effectively promotes the international trade and domestic safe circulation of China’s lithium battery products, enhancing the country’s competitiveness in the global new energy sector. (Cailian Press) 【Jinyang Co., Ltd. to Invest Up to $90 Million in Malaysian Lithium Battery Precision Component Project】 Jinyang Co., Ltd. (301210.SZ) announced that the company plans to invest in the construction of a lithium battery precision component project in Malaysia, with a total investment not exceeding $90 million. The funding will come from the company’s own funds or self-raised funds. The project will be implemented by a project company established in Malaysia through the company’s wholly-owned subsidiary in Singapore. The construction period is approximately 36 months. The company’s investment in a new production base in Malaysia aims to meet overseas market demand, optimize capacity layout, and enhance overall competitiveness. However, the project faces risks such as approval uncertainties, investment scale and progress uncertainties, overseas market competition, and internal control management. (Cailian Press) 【EVE Energy Reports Q1 Revenue and Non-GAAP Net Profit Up 37.34% and 16.60% YoY, Power Battery Business Expected to Continue Improving】 EVE Energy (300014.SZ) released its Q1 2025 report. Facing a deep adjustment in the new energy industry, the company achieved revenue of 12.796 billion yuan, up 37.34% YoY, demonstrating its lean management and resilience as an industry leader. Non-GAAP net profit attributable to the parent company was 817 million yuan, up 16.60% YoY. The company’s ESS and power battery shipments continued to grow rapidly in Q1. Benefiting from the volume increase of new energy vehicle models, breakthroughs in the plug-in hybrid market, and stable growth in commercial vehicle installations, EVE Energy’s power battery shipments reached 10.17 GWh in Q1, up 57.58% YoY, significantly outpacing the industry average. Meanwhile, the company is actively expanding into emerging markets such as eVTOL, drones, and robots, with some projects having completed the delivery of the first batch of samples. Overseas, the small cylindrical battery factory in Malaysia has been completed and put into production, ESS projects are expected to start mass production next year, and the Hungary base has begun construction, with the internationalization strategy expected to open a second growth curve. (Cailian Press) Related Reading: 【SMM Analysis】Weekly Review of Lithium Carbonate Market: Demand Falls Short of Expectations, Weekly Drop Exceeds 1,000 Yuan! 【SMM Analysis】Weekly Lithium Ore Market Review, 4.21-4.25 【SMM Analysis】Weekly Lithium Hydroxide Market Review, 4.21-4.25 【SMM Analysis】Recent Electrolyte Price Trends, 4.21-4.24, 2025 【SMM Analysis】ESS Battery Cell Price Trends, 4.17-4.24 【SMM Analysis】Spot Prices of Cobalt Tetroxide Slightly Decline This Week 【SMM Analysis】Ternary Cathode Material Prices Further Pull Back This Week 【SMM Analysis】Ternary Precursor Prices Rebound Slightly This Week 【SMM Analysis】Spot Prices of Refined Cobalt Rise Slightly 【SMM Analysis】Spot Prices of Cobalt Intermediate Products Remain Stable 【SMM Analysis】Cobalt Chloride Prices Rise Slightly This Week 【SMM Analysis】Spot Prices of Cobalt Sulphate Remain Stable, Market Sentiment Cautious 【SMM Analysis】Power Battery Cell Prices Remain Stable Overall, Ternary System Demand Under Pressure 【SMM Analysis】Negative Electrode Material Prices Remain Stable This Week 【SMM Analysis】Negative Electrode Raw Material Coke Prices Decline to Varying Degrees This Week 【SMM Analysis】Supply-Demand Pattern and Costs Remain Stable, Graphitisation Tolling Prices Unchanged This Week 【SMM Analysis】LFP Market Situation, 4.21-4.25 【SMM Analysis】China’s Unwrought Cobalt Exports and Export Prices Rise Significantly MoM in March 2025 【SMM Analysis】Cobalt Intermediate Product Imports Rise YoY and MoM in March 【SMM Analysis】Ultra-Fast Charging Technology Showdown: CATL vs. BYD 【SMM Analysis】Zimbabwe’s Step Aside Lithium Mine Project Initiates Asset Liquidation: Focus on Strategic Adjustments and Market Opportunities 2025 (10th) New Energy Industry Expo Concludes Successfully! Industry Leaders Gather to Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, Prices Still Largely Affected by Lithium Carbonate【New Energy Summit】 【SMM Analysis】China’s Spodumene Imports Total 534,500 mt in March 【SMM Data】LiPF6 Import and Export Data for March 2025 【SMM Analysis】LFP Material Import and Export Situation in March 【SMM Analysis】Ternary Cathode Imports and Exports in March: Imports Up 31% MoM, Exports Up 36% MoM 【SMM Analysis】Market Recovery in March, Artificial Graphite Exports Increase 【SMM Analysis】Analysis of Ternary Precursor Exports in March

Tianqi Lithium: Q1 Net Profit Expected to Turn Around to 82-123 Million Yuan, YoY Tianqi Lithium (002466.SZ) announced that it expects net profit attributable to shareholders of the listed company in Q1 2025 to be between 82 million and 123 million yuan, compared to a loss of 3.897 billion yuan in the same period last year. With the gradual intake of newly purchased lithium concentrates and the digestion of inventory lithium concentrates, the cost of chemical-grade lithium concentrates consumed in the production costs of the company's production sites has largely aligned with the latest purchase prices. Meanwhile, driven by the ramp-up of self-owned plants and technological transformation, the company's production and sales of lithium compounds and derivatives achieved YoY growth in Q1 2025. (Cailian Press) Six Major US Auto Industry Groups Jointly Oppose Tariff Hike on Auto Parts Six major US auto industry groups, representing auto dealers, suppliers, and nearly all major automakers, jointly sent a rare letter to the US Treasury Secretary, Commerce Secretary, and US Trade Representative, urging the federal government not to impose additional tariffs on imported auto parts. The letter stated that tariff hikes on auto parts would disrupt the global auto supply chain, trigger chain reactions, lead to higher car prices, lower sales, and make auto after-sales services and repairs more expensive and unpredictable. (Cailian Press) Geely Holding Unifies Its Battery Brands Under "Shen Dun Gold Brick," Models to Gradually Adopt Self-Produced Cells Cailian Press learned that Geely Holding Group recently completed the strategic integration of its battery business, officially establishing a new battery industry group, Zhejiang Jiyao Tongxing Energy Technology Co., Ltd. (referred to as "Jiyao Tongxing"). The company unified its original Gold Brick Battery and Shen Dun Short Blade Battery into the Shen Dun Gold Brick Battery brand, integrating Geely's self-developed and self-produced battery safety systems with cell products. In the future, Geely Holding's high-end luxury brands, such as Zeekr, will fully adopt the Gold Brick cells, and strategic models across Geely's brands will also be equipped with Gold Brick cells. Note: Tianyancha data shows that Jiyao Tongxing was established on January 26 this year, with actual control by Geely Group founder Li Shufu. (Cailian Press) CATL Collaborates with Five Automakers to Launch 10 New Chocolate Battery Swap Models At the 2025 Shanghai Auto Show, CATL's Chocolate Battery Swap, in collaboration with FAW, Changan, BAIC, Chery, and GAC, launched 10 new Chocolate Battery Swap models, with nine set to debut this year. GAC Group, as the first automaker to fully cooperate with the Chocolate Battery Swap ecosystem, will introduce the Chocolate standard in more of its models and collaborate with CATL in areas such as battery swap station construction, battery banking, marketing of battery swap models, and cascade utilization of retired batteries. (Cailian Press) Honda to Jointly Develop LFP Batteries with CATL Honda announced that it will collaborate with CATL to develop an efficient platform for directly placing batteries within the auto body. The two companies will jointly develop LFP batteries, which are planned to be adopted in the upcoming third-generation YE series models. (Cailian Press) Yicheng New Energy Plans to Acquire 80% Stake in Energy Storage Company and Increase Capital Yicheng New Energy (300080.SZ) announced that it plans to acquire an 80% stake in Henan Pingmei Shenma Energy Storage Co., Ltd. (referred to as "Energy Storage Company") held by its controlling shareholder, China Pingmei Shenma Group. After the acquisition, all shareholders of the Energy Storage Company will proportionally increase capital by 125 million yuan, with Yicheng New Energy contributing 100 million yuan. Following the acquisition and capital increase, the registered capital of the Energy Storage Company will increase from 30 million yuan to 155 million yuan, and Yicheng New Energy will hold an 80% stake, making the Energy Storage Company its subsidiary. The acquisition price for the 80% stake is 35.497 million yuan. The Energy Storage Company primarily produces and sells intelligent lithium-ion battery energy storage systems. After the acquisition, the company will achieve a combination of long-duration and short-duration energy storage, which will help strengthen and expand its main business. (Cailian Press) Related Reading: SMM Analysis: China's Unwrought Cobalt Exports and Average Export Price Surged MoM in March 2025 SMM Analysis: Cobalt Intermediate Product Imports Rose YoY and MoM in March SMM Analysis: Supercharging Technology Showdown: CATL vs. BYD SMM Analysis: Zimbabwe's Step Aside Lithium Mine Project Initiates Asset Liquidation: Focusing on Strategic Adjustments and Market Opportunities The 2025 (10th) New Energy Industry Expo Concluded Successfully! Industry Leaders Gather to Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, Prices Still Largely Affected by Lithium Carbonate [New Energy Summit] SMM Analysis: China Imported 534,500 mt of Spodumene in March SMM Data: LiPF6 Import and Export Data for March 2025 LFP Material Import and Export Situation in March [SMM Analysis] SMM Analysis: Ternary Cathode Imports and Exports in March: Imports Up 31% MoM, Exports Up 36% MoM SMM Analysis: Market Recovery in March, Artificial Graphite Exports Increased SMM Analysis: Ternary Precursor Export Situation in March SMM Analysis: Overseas Lithium News, 4.14-4.18 SMM Analysis: Lithium Carbonate Market Weekly Review: Prices Stabilized, Buyers and Sellers Remain Deadlocked SMM Analysis: Lithium Hydroxide Weekly Market, 4.14-4.18 SMM Analysis: Ternary Material Prices Pulled Back Slightly This Week SMM Analysis: Ternary Precursor Prices Corrected Slightly This Week SMM Analysis: Dry Separator Prices Expected to Bottom Out SMM Analysis: Negative Electrode Material Prices Remained Stable This Week LFP Material Market Weekly Update [SMM Analysis] SMM Analysis: ESS Cell Price Trends, 4.11-4.17 SMM Analysis: Dry Separator Shows Upward Trend This Week SMM Analysis: Power Cell Prices Mostly Stable with Minor Fluctuations SMM Analysis: Lithium Ore Weekly Market, 4.14-4.18 SMM Analysis: Graphitisation Tolling Services Prices Remained Stagnant This Week SMM Analysis: Recent Electrolyte Prices, 2025.4.14-2025.4.17 SMM Analysis: Petroleum Coke Prices Held Steady, Needle Coke Prices Showed Slight Downward Trend This Week SMM Analysis: A Review of Waste Battery for Cascade Utilization Price Trends This Week, 2025.04.14-2025.04.17

The 2025 (10th) New Energy Industry Expo Successfully Concluded! Industry Leaders Gathered to Discuss Hot Topics! [CPCA: AEB Installation Rate in the Passenger NEV Market Reached 62.9%] The China Passenger Car Association (CPCA) released the February 2025 Intelligent Connected Vehicle Insight Report. The report indicated that the overall AEB installation rate performed well from January to February, with the overall installation rate for passenger vehicles reaching 56.5%, and the proportion of passenger vehicles priced at 160,000-240,000 yuan reaching 70.2%. There is still room for growth. The AEB installation rate in the passenger NEV market has reached 62.9%. On one hand, the installation rate is growing rapidly; on the other hand, the strict triggering conditions of the AEB function may lead to its failure, as recent incidents involving some companies have highlighted certain defects in the current AEB function. The MIIT recently required automakers to strictly prohibit exaggerated claims about intelligent driving in a meeting, marking the official entry of the intelligent driving industry into an era of "strong regulation." [Suppliers "In Trouble": US Auto Industry Writes to Trump Administration] Six organizations representing the US auto industry urged the Trump administration in a letter to government officials not to impose a 25% tariff on auto parts set to take effect on May 3, stating that it could jeopardize US auto production. The letter pointed out that many auto suppliers are already "in trouble" and cannot afford additional cost increases, which could lead to broader industry issues. The letter was signed by leaders of the Alliance for Automotive Innovation, the American International Automobile Dealers Association, the Motor & Equipment Manufacturers Association, the Original Equipment Suppliers Association, the National Automobile Dealers Association, and the American Automotive Policy Council, and was addressed to US Treasury Secretary Scott Bessent, US Commerce Secretary Howard Lutnick, and US Trade Representative Ambassador Jamison Greer. [South Korea’s Industry Minister: Will Discuss Trade Imbalance with US Counterparts] South Korea’s Industry Minister stated that he will discuss trade imbalance issues with US counterparts; will make every effort to quickly find a solution to the US auto tariff issue; defense costs may become part of the discussion, and they are prepared for it. [NIO CEO: Pure EVs Are the Ultimate Solution] NIO’s CEO stated that he is confident that pure EVs are the ultimate solution as battery costs decline and charging and battery swap infrastructure expands. [US ITC Issues Final Determination on Section 337 Investigation of Rechargeable Batteries and Components] The US International Trade Commission (ITC) announced on April 21 that it issued a final determination on the Section 337 investigation of certain rechargeable batteries and components (Investigation No. 337-TA-1421): it will not review the initial determination (No. 19) made by the administrative law judge on March 21, 2025, and based on the settlement, the investigation against the listed respondents, Dragonfly Energy Corp. of Reno, NV, and Dragonfly Energy Holdings Corp. of Reno, NV, is terminated. (Cailian Press) [CPCA: Tariff Hike Will Further Accelerate Localization of Auto Chips] The China Passenger Car Association (CPCA) released the February 2025 Intelligent Connected Vehicle Insight Report, which pointed out that after the chip shortage in 2021, many domestic automakers have started using self-developed chip products. Currently, the localization rate of all chips in China is roughly 20%, with state-owned automakers achieving a higher localization rate. The tariff hike will further accelerate the localization process of auto chips, with analog chips being replaced faster, while digital chips are still dominated by foreign companies. Related Reading: SMM: Global LFP Production Expected to Continue Rising, Prices Still Largely Affected by Lithium Carbonate [New Energy Summit] [SMM Analysis] China Imported 534,500 mt of Spodumene in March [SMM Data] LiPF6 Import and Export Data for March 2025 LFP Material Import and Export Situation in March [SMM Analysis] [SMM Analysis] Ternary Cathode Import and Export Volume in March: Imports Up 31% MoM, Exports Up 36% MoM [SMM Analysis] Market Recovery in March, Artificial Graphite Exports Increased [SMM Analysis] Ternary Precursor Export Situation in March [SMM Analysis] Overseas Lithium News, April 14-18 [SMM Analysis] Weekly Review of the Lithium Carbonate Market: Prices Stabilized, Buyers and Sellers Remain Deadlocked [SMM Analysis] Lithium Hydroxide Weekly Market, April 14-18 [SMM Analysis] Ternary Material Prices Dropped Slightly This Week [SMM Analysis] Ternary Precursor Prices Slightly Corrected This Week [SMM Analysis] Dry Separator Prices Expected to Bottom Out [SMM Analysis] Anode Material Prices Remained Stable This Week LFP Material Market Weekly Update [SMM Analysis] [SMM Analysis] ESS Battery Cell Weekly Price Trend Analysis, April 11-17 [SMM Analysis] Dry Separator Showed an Upward Trend This Week [SMM Analysis] Power Battery Cell Prices Remained Stable with Slight Fluctuations [SMM Analysis] Lithium Mine Weekly Market, April 14-18 [SMM Analysis] Graphitisation Tolling Services Prices Remained Deadlocked This Week [SMM Analysis] Recent Electrolyte Prices (April 14-17, 2025) [SMM Analysis] Petroleum Coke Prices Held Steady This Week, Needle Coke Prices Showed a Slight Downward Trend [SMM Analysis] A Review of Waste Battery for Cascade Utilization Price Trends This Week (April 14-17, 2025)

The 2025 (10th) New Energy Industry Expo Concluded Successfully! Industry Leaders Gathered to Discuss Hot Topics! 【Dazhong Mining: The Jiada Lithium Mine in Sichuan Will Achieve a Certain Scale of By-product Raw Ore Sales in 2025】 Dazhong Mining stated at its 2024 performance meeting that the company is focusing on increasing reserves and production this year, with priority given to the expansion and technological transformation of the two mines under Jinsheng Mining. Meanwhile, the company is fully promoting the infrastructure construction of the Jizhushan Lithium Mine in Hunan and will prioritize the transition to mining in the first mining area of the Jiada Lithium Mine in Sichuan, aiming to achieve a certain scale of by-product raw ore sales in 2025. In terms of capital expenditure planning, the construction of the Jizhushan Lithium Mine in Hunan, the Jiada Lithium Mine in Sichuan, and the technological transformation and expansion projects of the Zhouyoufang Iron Mine, Chongxinji Iron Mine, and Guyang Hejiao Iron Mine will be the core areas of investment. 【Nuodex: Signed a Strategic Cooperation Framework Agreement with SVOLT Energy】 Nuodex (600110.SH) announced that its wholly-owned subsidiary, Baijiada, has signed a Strategic Cooperation Framework Agreement with SVOLT Energy. The agreement stipulates that SVOLT Energy is expected to purchase 50,000 mt of lithium battery copper foil from Baijiada over the next three years, with specific quantities to be determined based on market demand and project progress. 【South Korea's LG Energy Withdraws from EV Battery Investment Project in Indonesia】 South Korea's LG Energy Solution announced on Monday that it has officially withdrawn from a $14.2 billion EV battery manufacturing project in Indonesia. At the end of 2020, LG Energy Solution (LGES) signed an agreement with the Indonesian government for the so-called "Indonesia Mega Project Package," which covered multiple investments in the EV battery supply chain. 【Li-Wang: Collaborates with Tsinghua University on Solid-State Battery R&D】 Li-Wang released its investor relations activity record, stating that since its collaboration with Tsinghua University's Shenzhen International Graduate School in 2021, both parties have actively explored the field of solid-state battery technology R&D. Currently, some samples of the solid-state electrolyte technology route have entered the performance verification stage. 【CITIC Securities: Shanghai Auto Show to Open Soon, Solid-State Battery Industry and Policy Progress to Stimulate Material Sector】 CITIC Securities' research report indicates that the upcoming Shanghai Auto Show is expected to strongly catalyze the solid-state battery industry, with industry progress accelerating. CITIC Securities predicts that policy support signals will further strengthen. In 2025, high-end applications of solid-state batteries such as humanoid robots, eVTOL, and consumer electronics are expected to further expand, driving the solid-state battery material industry into a period of rapid development. Solid-state electrolytes are the core incremental factor, and it is recommended to focus on leading material sector progress and low-position stocks with close industry linkages. 【CATL Launches Second-Generation Shenxing Ultra-Fast Charging Battery, 5-Minute Charge for Over 520 km Range】 CATL released the second-generation Shenxing ultra-fast charging battery. According to reports, this LFP battery offers a range of 800 km, with a peak charge rate close to 12C and peak charging power exceeding 1.3 MW, enabling "5-minute charging for over 520 km range." (Cailian Press) Related Readings: 【SMM Analysis】March Domestic Spodumene Imports Totaled 534,500 mt 【SMM Data】March 2025 LiPF6 Import and Export Data March LFP Material Import and Export Situation【SMM Analysis】 【SMM Analysis】March Ternary Cathode Import and Export Volume Released, Imports Up 31% MoM, Exports Up 36% MoM 【SMM Analysis】March Market Recovery, Artificial Graphite Exports Increased 【SMM Analysis】March Ternary Precursor Export Situation Analysis 【SMM Analysis】Overseas Lithium News, 4.14-4.18 【SMM Analysis】Weekly Review of the Lithium Carbonate Market: Prices Stabilized, Buyers and Sellers Remain Deadlocked 【SMM Analysis】Lithium Hydroxide Weekly Market, 4.14-4.18 【SMM Analysis】Ternary Material Prices Pulled Back Slightly This Week 【SMM Analysis】Ternary Precursor Prices Slightly Corrected This Week 【SMM Analysis】Dry Separator Prices Expected to Bottom Out 【SMM Analysis】Negative Electrode Material Prices Remained Stable This Week LFP Material Market Weekly Update【SMM Analysis】 【SMM Analysis】ESS Battery Cell Weekly Price Trend Analysis, 4.11-4.17 【SMM Analysis】Dry Separator Prices Showed an Upward Trend This Week 【SMM Analysis】Power Battery Cell Prices Remained Stable with Slight Fluctuations 【SMM Analysis】Lithium Mine Weekly Market, 4.14-4.18 【SMM Analysis】Graphitisation Tolling Service Prices Remained Stagnant This Week 【SMM Analysis】Recent Electrolyte Prices (2025.4.14-2025.4.17) 【SMM Analysis】Petroleum Coke Prices Held Steady This Week, Needle Coke Prices Showed a Slight Downward Trend 【SMM Analysis】A Review of This Week's Waste Battery for Cascade Utilization Price Trends (2025.04.14-2025.04.17)

SMM Analysis: Market Recovery in March, Artificial Graphite Exports Increase. SMM, March 24: In February 2025, China's artificial graphite exports reached 4,607 mt, up 440% MoM, up YoY...

China, the top global producer and supplier of graphite, has recently introduced strict export limits on this vital mineral. The new rules demand that exporters secure special permits to ship specific graphite products. These include high-purity and high-strength graphite used in cutting-edge industries. The measures seek to manage the outflow of graphite from China. They also aim to keep a steady domestic supply for strategic needs.