[Lead-acid Battery Market Dynamics] It is reported that Tianneng Group Guizhou Energy Technology Co., Ltd., located in the Taijiang Economic Development Zone in Guizhou, according to Pang Mingduo, Deputy General Manager of the company: "Currently, the automation rate of the factory's production lines has reached 95%, and capacity has doubled compared to the initial stage. Daily production of new energy batteries has surged from 40,000 units to 135,000 units. Every year, 40,000 mt of waste batteries are recycled and handed over to Guizhou Qizhen Industrial Group Co., Ltd. for processing. The secondary lead they produce can meet 70% of Tianneng's raw material needs."

On April 16, Zhejiang Huayou Cobalt Co., Ltd. released its first quarter report for 2026. During the reporting period, Huayou Cobalt achieved operating revenue of 25.804 billion yuan, a year-on-year increase of 44.62%; total profit of 3.692 billion yuan, a year-on-year increase of 100.49%; net profit attributable to shareholders of the listed company of 2.497 billion yuan, a year-on-year increase of 99.45%; and net profit after deducting non-recurring gains and losses of 2.070 billion yuan, a year-on-year increase of 68.76%. As of the end of the first quarter, Huayou Cobalt's total assets reached 174.669 billion yuan, an increase of 9.55% compared to the end of the previous year.

AEMC has entered into cooperation arrangements with RecycLiCo Battery Materials and Lucid to support hydrometallurgical testing and explore a more integrated domestic nickel supply chain in the United States. If successful, the project’s downstream refining potential could further enhance its strategic value.

According to ESG News, on April 15 (local time), the two companies announced a partnership to deploy an energy storage system (ESS) using second-life battery packs at Rivian Normal Manufacturing Plant. The project will utilize more than 100 used battery packs from Rivian, with an initial dispatchable capacity of 10 megawatt-hours (MWh).

This week, the e-bike and automotive battery replacement market was in a traditional off-season state. Dealers only purchased as needed, and some enterprises reported weakening orders and reduced production. In terms of battery selling prices, there were no sales promotions as typically seen during the off-season in previous years, mainly due to rising raw material costs. Apart from rising lead prices, prices of other auxiliary materials also trended upward. In particular, sulphuric acid prices surged significantly since late March, with smelting-grade sulphuric acid prices rising by over 50%, and quotes in some regions approaching 2,000 yuan/mt. In addition, lead prices fell first and then rose this week. At the beginning of the week, downstream enterprises purchased as needed on dips, and market transactions were moderate. In the second half of the week, lead prices rose, and most downstream enterprises adopted a wait-and-see approach with cautious purchasing, with spot market transactions remaining sluggish.

According to SMM, from April 10 to April 16, 2026, the weekly comprehensive operating rate of lead-acid battery enterprises across five provinces was 69.66%, up 2.38 percentage points WoW. With the impact of the Qingming Festival holiday dissipating, lead-acid battery enterprises gradually resumed production this week. However, as the end-use market was in the traditional consumption off-season, battery orders at some enterprises weakened, and they once again lowered their production line operating rates. Therefore, the weekly operating rate of lead-acid batteries recovered somewhat this week but remained difficult to restore to pre-holiday levels. Currently, battery markets for e-bikes, automobiles, and other sectors are all in the off-season, with dealers purchasing cautiously. To ease inventory pressure, most producers adopted a produce-based-on-sales approach and scaled back production plans. If orders continue to remain sluggish going forward, some enterprises will consider further production cuts.

SMM April 17 News: Lead prices were weak in the first half of this week, with secondary refined lead quoted at premiums of 0-50 yuan/mt, and smelters saw sluggish shipments. In the second half of the week, lead prices rose, and quotes pulled back to discounts of 50 yuan/mt to premiums of 25 yuan/mt, with shipment enthusiasm rebounding. Downstream sectors were in the consumption off-season, mainly restocking on dips and purchasing via long-term contracts. The tug-of-war between upstream and downstream intensified. Both supply and demand are expected to be weak next week, with premiums moving sideways. Affected by weak lead prices and high scrap battery costs, secondary lead smelting losses widened. As of April 17, large-scale enterprises posted profits/losses of -200 yuan/mt, while small and medium-sized enterprises posted -404 yuan/mt. Some producers plan to cut or halt production next week to control losses. Weak downstream demand is unlikely to improve, and the industry's loss-making landscape will be difficult to reverse in the short term.

Shanghai Metals Market (SMM) is thrilled to announce that our 2026 SMM Global Lead-Acid Battery Supply Chain Industry Conference is scheduled to take place in Ho Chi Minh City, Vietnam, during November 12-13, 2026！

On April 17, the SMM average price of battery-grade nickel sulphate rose significantly.

[PLS Group Secures $600 Million Senior Notes for Strategic Refinancing] The Australian lithium industry has witnessed an unprecedented evolution in capital structures, as producers seek strategies to navigate the dynamic shifts in global supply chains and changing institutional investor preferences. The ability to secure long-term, competitively priced debt financing has become a key competitive advantage for enterprises positioning themselves within the rapidly expanding battery materials ecosystem. Against this backdrop, the implications of strategic refinancing decisions extend far beyond real-time cost optimization, fundamentally reshaping the possibilities for operational flexibility and growth trajectories. PLS Group's $600 million senior notes refinancing represented a substantial capital markets transaction that exceeded initial market expectations through significant oversubscription. The issuance size was increased from an initial target of $500 million to $600 million, highlighting robust institutional investor demand for Australian lithium producer bonds. This 20% upsizing reflected investor confidence in the company's operational fundamentals and its strategic positioning within the global battery supply chain. The notes were set at an annual coupon rate of 6.875%, providing a fixed-cost financing structure extending to 2031 and ensuring seven years of interest rate certainty. Settlement is expected to be completed on April 22, 2026, establishing a clear timeline, with semi-annual interest payments commencing on November 1, 2026. The senior unsecured classification, supplemented by credit enhancement through guarantees from wholly-owned subsidiaries, preserved operational flexibility for the issuer while providing appropriate credit protection for institutional investors. This pricing structure reflected current credit market dynamics for resource sector issuers, incorporating commodity price fluctuations and expectations of lithium industry tax incentives. The successful issuance marked institutional investor recognition of lithium's strategic importance within the energy transition investment theme and confidence in Australian mining credit quality. Source: https://discoveryalert.com.au/ [Vulcan Energy Receives Unexpected Boost for German Lithium Mine] Vulcan Energy received a significant boost in Germany, as the state of Rhineland-Palatinate approved a royalty exemption on lithium production, aimed at strengthening the domestic critical minerals supply chain. The exemption applies until December 31, 2030, with a review one year before expiry, designed to accelerate the development of critical minerals supply chains. Vulcan Energy stated that this decision was favorable to its Lionheart project currently under construction in the state. The integrated lithium and geothermal development project targets annual production of 24,000 mt of lithium hydroxide monohydrate (LHM), sufficient to supply approximately 500,000 EV batteries per year, while providing 275 Gwh of renewable electricity and 560 Gwh of thermal energy annually over the project's estimated 30-year life cycle. Source: https://www.australianresourcesandinvestment.com.au/ [KoBold Invests $50 Million to Advance Lithium Ore Exploration in DRC] Billionaire-backed scientific exploration company KoBold Metals has launched what it calls the largest lithium ore exploration campaign ever in the DRC, committing over $50 million (A$70 million) by early 2027. The exploration will cover 13 license areas spanning over 3,000 square kilometers, with plans to expand to 5,000 square kilometers by the end of 2026, focusing on the Manono region, where the world's highest-grade lithium pegmatite deposits have been discovered. The DRC is already the world's largest cobalt producer and Africa's largest copper supplier, while also holding vast unexplored lithium ore reserves. Its abundant critical minerals resources make it a key player in the global supply chain, a fact recognized by the US, which signed a formal agreement with the DRC government at the end of 2025. Source: https://mining.com.au/ [Canada's Clean Energy Future Requires Over 40 Times More Lithium — Yet the Country Cannot Advance Mine Construction] Canada faces significant challenges in meeting the growing demand for critical minerals such as lithium, graphite, cobalt, nickel, and copper, which are essential to the global clean energy transition. Despite abundant reserves and a history as a major resource producer, Canada struggles to bring new mining projects into production quickly due to lengthy approval processes, jurisdictional complexities, and local opposition. This bottleneck threatens Canada's competitiveness in the global market and its ability to contribute to collective Western security. Experts emphasized the need for a comprehensive strategy that goes beyond mining to encompass processing and refining, while also addressing economic and geopolitical considerations. Overcoming these obstacles is critical for Canada to secure its position in the clean energy future. Source: https://thehub.ca/