In June, the sodium-ion battery industry chain showed strong momentum. End-use demand continued to be released upstream, driving high growth for both cathode materials and hard carbon anodes, further tightening the supply-demand balance. SMM data shows that sodium-ion battery cathode production rose 22% MoM and hard carbon anode production rose 17% MoM, while the pace of supply expansion still struggled to match demand growth, with a clear seller's market.

[SMM Analysis: Sodium-ion Battery Market June Review (I): Cathode Undersupply and Anode Volume Release Resonate, Industry Chain Prosperity Continues to Rise] SMM, July 3: In June, the sodium-ion battery (hereinafter "sodium-ion battery") industry chain demonstrated strong momentum. Sustained release of end-use demand transmitted upstream, with both cathode materials and hard carbon anodes experiencing high growth, further intensifying the supply-demand tension. SMM data showed that sodium-ion battery cathode production rose 22% MoM and hard carbon anode production rose 17% MoM for the month, while the pace of supply-side capacity expansion still struggled to match demand growth, clearly indicating a seller's market...

[SMM Cobalt Lithium Morning Meeting Minutes: This week, overall sentiment in the industry chain recovered, as a rebound in upstream raw material prices drove some material prices higher. Lithium carbonate, LFP, and separator segments performed strongly. Downstream production schedules stayed high, with demand from energy storage, commercial vehicles, and power batteries still providing support. However, acceptance of high prices was limited, and actual transactions were mostly based on essential needs. Cobalt salts, nickel salts, and ternary cathode precursors remained in the doldrums, with a strong wait-and-see sentiment prevailing in the market. Overall, short-term prices may continue to drift higher, but attention still needs to be paid to raw material arrivals, the sustainability of restocking, and the realization of end-use demand going forward.]

On June 2, 2026, Yang Dezhi, Party Secretary and Chairman of Meishan Xingmei Investment Group, led a delegation and headed to Pingshan headquarters for a field trip and exchange, and officially signed a strategic cooperation agreement with FinDreams Battery. FinDreams Battery Deputy General Manager Zhao Tong, BYD Energy Storage and New-Type Battery Division General Manager Yin Xueqin, and other leaders attended the event and witnessed the signing ceremony. In the future, both parties will accelerate the implementation of the agreement, deepening cooperation with a focus on the co-construction of heavy truck fast charging and energy replenishment networks, zero-carbon park construction, power battery support, and hard carbon anode resource development.

After both sodium-ion battery cathodes and hard carbon anodes recorded significant increases YoY and MoM in May, the midstream and downstream segments of the industry chain—electrolytes and battery cells—also delivered impressive results, yet structural issues lurk beneath the growth.

In May, key materials for sodium-ion batteries sustained their strong momentum, with both cathode and hard carbon anode recording sharp YoY and MoM growth. Top-tier players’ order books were full and capacity utilization rates approached their limits. On the supply side, the pattern of rising volumes and stable prices was pronounced, yet pressure to pass on rising raw material costs was also building.

On June 2, FinDreams Battery and Meishan Xingmei Investment Group officially signed a strategic cooperation agreement. FinDreams Battery is a power battery subsidiary of BYD Group, focusing on battery research, development, and production for new energy vehicles and energy storage sectors. Recently, FinDreams Battery also appeared at the CIBF 2026 exhibition, showcasing innovative technologies such as the second-generation blade battery, attracting widespread attention from industry peers both domestically and internationally. This strategic cooperation agreement will focus on deepening collaboration in areas such as the joint construction of a heavy-duty truck fast-charging network, zero-carbon park development, power battery supporting, and the development of hard carbon anode resources.

According to SMM data, compared with the rapid growth of cathode and anode materials, the electrolyte and battery cell markets maintained high YoY growth but were affected in the short term by factors such as cost control, capacity alignment, and the pace of end-use demand release, presenting an operational landscape of "stability with adjustments."

As the sodium-ion battery scaling and commercialization process continues to accelerate, industry dividends are being released at a faster pace in 2026. April, as a key period at the start of Q2, saw a notable recovery in the sodium-ion battery cathode and anode materials market. Demand-side stockpiling willingness increased, capacity expansion pace accelerated, product mix differentiation became more prominent, and the industry as a whole moved toward a positive supply-demand synergy.

On April 29, 2026, Zhongyi Group (Jilin) New Energy Technology Co., Ltd.'s 100kt/year sodium-ion battery hard carbon anode material project completed filing in Liuhe County, Tonghua, Jilin. The project has a total investment of 1.495 billion yuan and will be constructed in two phases, with plans to commence construction in December 2026 and complete in December 2029. The company is a Sino-foreign joint venture high-tech enterprise with existing capacity of 300,000 mt of anode materials. Leveraging green electricity production and over 100 patented technologies, it focuses on the sodium-ion battery anode material sector. North-east China, with its low-temperature adaptability and policy support, is becoming a hot topic for sodium-ion battery industry deployment. Jilin plans to achieve new-type energy storage ESS installations of no less than 3 million kW by 2030, continuously promoting sodium-ion battery R&D and extreme-cold testing base construction.