Batteries and downstream end markets: In terms of ternary batteries, domestic power market orders continued to increase slightly in September, among which the proportion of high nickel decreased slightly, and the demand for 6-series low-cobalt high-voltage ternary batteries began to rise, mainly due to high The energy density of voltage 6 series products can basically be improved to high nickel ternary performance. In addition, its safety is higher than that of high nickel, and the cost is lower. It is more popular in the new energy passenger car market.

In terms of iron-lithium batteries, demand in the power market continued to increase in September, and domestic energy storage market demand was stable. Overseas energy storage orders were reduced in the first half of the year due to the epidemic. Recently, it has gradually recovered and gradually increased. The market demand for electric two-wheeled vehicles has also increased. The low-temperature performance of iron-lithium batteries has improved, and their safety and cycle life advantages have allowed them to continuously increase their share of the two-wheeled vehicle market.

Electrolytic cobalt and cobalt intermediate products: The spot price of electrolytic cobalt remained stable this week. Spot prices of electrolytic cobalt remained stable this week. Market rumors of overseas electrolytic cobalt flooding into the country in large quantities, it is said that the total amount is nearly 3000 tons. The demand for electrolytic cobalt at home and abroad continues to be sluggish, and domestic short-term structural cobalt raw materials are in short supply, causing the rise in cobalt prices to come to an end. Recently, spot transactions of electrolytic cobalt have been sporadic, and the quotations of mainstream manufacturers have remained basically unchanged, but the quotations of traders have been lowered. There is a large stock of electrolytic cobalt spot stocks, and domestic and overseas demand is temporarily low in price support. However, in the short term, overseas electrolytic cobalt prices and cobalt raw materials discount coefficients are relatively high. Combined with cost support factors, it is expected that electrolytic cobalt spot prices may experience a slight correction. Prices of cobalt intermediates remained flat this week. Domestic cobalt raw materials arrived in Hong Kong more than expected in July, and the tightness of cobalt raw materials inventory weakened than expected but still not sufficient. Suppliers have no new zero-order sales plans this week, and the quotations are still around US$12.5/lb. Spot transactions are sporadic. It is expected that the price of cobalt raw materials will be difficult to support, and the willingness of smelters to purchase will gradually decline. Spot suppliers of cobalt intermediate products may The quotation will be lowered gradually. The price of SMM electrolytic cobalt this week was 26.8-28.3 million yuan/ton, the average price was the same as last week. The price of SMM cobalt intermediate products was 11.5-12.1 US dollars/lb, the average price was the same as last week.

Cobalt salt and nickel salt: The price of cobalt salt remained flat this week, while the price of nickel salt increased. The high price of cobalt salt is difficult to support. Cobalt sulfate 55,000-56,000 yuan/ton, cobalt chloride 65-67,000 yuan/ton transaction prices have begun to appear, and there are also orders for a small amount of recovery of cobalt sulfate 5.3-54,000 yuan/ton. The quotation of cobalt sulfate remained high at 58,000 yuan/ton, and the quotation of cobalt chloride remained high at 6.8-6.9 million/ton. However, downstream procurement prices are relatively strong, and high prices are expected to be difficult to maintain. The central cobalt salt price may be lowered. However, the supply and demand structure is still good. Cobalt sulfate is expected to be in short supply from August to September. Therefore, combined with the supply and demand structure, the price of cobalt salt has little room for downward adjustment. The price of SMM cobalt sulfate this week was 54-58 thousand yuan/ton, the average price was the same as last week. The current price of SMM cobalt chloride is 65-69,000 yuan/ton, the average price is the same as last week. The price of SMM battery-grade nickel sulfate is 25-56,000 yuan/ton, and the average price is up by 10,000 yuan/ton from last week.

Cobalt tetroxide: The price of cobalt oxide was flat this Thursday. The market inventory of cobalt tetroxide is relatively low, and the supplier's bargaining power is still strong. The quotation is still over 230,000 yuan/ton, with a few orders of 220,000 yuan/ton. In the future, after the prices of cobalt raw materials and cobalt salts are gradually adjusted back, the price of cobalt tetroxide will also be gradually reduced. The current price of SMM cobalt tetroxide this week is 200,000-230,000 yuan/ton, and the average price is the same as last week.

Ternary precursor: The price of the precursor of the Yuan remains unchanged this Wednesday. Recently, the price of raw materials has remained stable. Today, downstream ternary materials companies are still negotiating orders with precursor companies. The ternary materials market still has 0.5-1 months of precursor inventory, while the precursor factory inventory is low. Although the precursor quotation has risen, three Metamaterials companies are more difficult to accept, and the market is still in the game stage. This week, the price of SMM ternary precursor (523 type) was 80-83 thousand yuan/ton, the average price was the same as last week. The price of SMM ternary precursor (523 single crystal type) is 82,000-85,000 yuan/ton, the average price is the same as last week. The price of SMM ternary precursor (Type 622) is 8.7-91,500 yuan/ton, and the average price is up by 10,000 yuan/ton from last week. The price of SMM ternary precursor (Type 811) was 975-1104 yuan/ton, the average price was the same as last week.

Lithium carbonate: The price of battery-grade lithium carbonate rose slightly this week. The shipments of battery-grade lithium carbonate by some companies are in good condition, the operating rate of large factories has been reduced, and the downstream marginal demand is gradually repaired. However, the overall market sentiment has not yet risen, ternary materials slowly recovered, terminal cost reduction pressure will continue to be transmitted upstream, and the room for price increases is limited. This week, the price of SMM battery grade lithium carbonate was 395--40,500 yuan/ton, and the average price increased by 0.025 million yuan/ton from last week. The price of SMM industrial zero-grade lithium carbonate is 33,000-37,000 yuan/ton, the average price is the same as last week.  

Lithium hydroxide: The price of lithium hydroxide was flat this week. Due to unstable downstream demand, some companies have less output and inventory, and there is not enough motivation for price increases. With the completion of downstream customer certification, some second-tier lithium hydroxide companies are expected to increase export orders in the fourth quarter. This week, the price of SMM battery-grade lithium hydroxide (coarse particles) was 46,000-52 thousand yuan/ton, the average price was the same as last week. The price of SMM industrial-grade lithium hydroxide was 41,000 to 43,000 yuan/ton, and the average price was the same as last week.  

Lithium cobalt oxide: The price of lithium cobalt oxide was flat this week. The market price of lithium cobalt oxide above 4.4V is 240,000 to 250,000 yuan/ton, and the supplier’s feedback is that the orders are above 240,000 yuan/ton. Due to the high purchase price of cobalt tetroxide in the early stage, combined with feedback from downstream battery factories, the current lithium cobalt oxide The average price of signed orders is still between 210,000 to 220,000 yuan/ton. The purchase of some downstream battery plants has not yet been completed, and it is expected that the transaction price of lithium cobalt oxide may further rise slightly. This week, the price of SMM4.35V lithium cobalt oxide was 213,000-22.1 million yuan/ton, and the average price was the same as last week.  

Ternary materials: The price of metamaterials will not change this Wednesday. From the perspective of the power market, battery companies still have 0.5-1 months of inventory, most of which are long-term transactions, and prices are relatively stable in the near future. At present, the price of cobalt salt is stable and has a downward trend. The price of nickel is relatively strong, and the quotation of precursors has risen. However, it is difficult for battery companies to accept the price increase, and the price of 523 is basically unchanged. Recently, terminal demand for nickel 65 ternary materials has gradually increased. Because it is a customized product, the supply is relatively simple, and the price is expected to rise slightly after the recent transaction. The price of SMM ternary materials (Type 523) this week is 11.15-12.15 million yuan/ton, the average price is the same as last week. The price of SMM ternary material (type 622) is 131,500 to 142,500 yuan/ton, and the average price is the same as last week. The price of SMM ternary material (Type 811) was 15.05-165 million yuan/ton, and the average price was the same as last week.  

Lithium iron phosphate: The price of lithium iron phosphate remains unchanged this week. This week, the price of lithium carbonate increased slightly, and basically did not affect lithium iron. The demand for lithium iron in the power market continued to increase, but the price of battery companies was under pressure, and the price of iron and lithium remained basically unchanged. The demand for iron and lithium in the energy storage market has basically remained stable, but the cost of iron and lithium is still declining, and the market outlook may continue to decline. The price of SMM lithium iron phosphate (power type) this week is 345-3.7 million yuan/ton, the average price is the same as last week. The price of SMM lithium iron phosphate (energy storage type) was 28-31 thousand yuan/ton, the average price was the same as last week.  

Lithium manganate: The price of lithium manganate remains unchanged this week. The price of industrial carbon is still rising this week, but it is more difficult for downstream battery companies to accept the price increase. The price of lithium manganate has also bottomed out. The downstream orders in September have basically remained stable from August, and the prices have remained basically unchanged. This week, the price of SMM lithium manganate (capacity type) was 21-2.8 million yuan/ton, the average price was the same as last week. The price of SMM lithium manganate (power type) was 33-35,500 yuan/ton, the average price was the same as last week. Anode materials: The prices of artificial graphite and natural graphite remain unchanged this week. Needle coke prices are basically stable this week. Petroleum coke prices are still falling. Downstream battery companies have increased their purchases. Currently, graphite prices are temporarily stable, and there may still be a downward trend in the future. This week, the price of SMM artificial graphite (high-end) was 67-72 thousand yuan/ton, and the price of SMM artificial graphite (mid-range) was 57-62 thousand yuan/ton. The average price was the same as last week. The price of SMM natural graphite (high-end) is 48,000 to 60,000 yuan/ton, and the price of SMM natural graphite (middle-end) is 30,000 to 40,000 yuan/ton. The average price is the same as last week.

Diaphragm: Diaphragm prices are flat this week. The demand for downstream batteries is gradually increasing, and the demand for procurement by diaphragm companies is also increasing. Enjie's interim report showed that the company's wet-process lithium battery separator shipments exceeded 400 million square meters in the first half of the year, and its market share continued to maintain the industry's leading level. This week, the price of SMM wet base film (5μm) is 2.5-3.3 yuan/m2, the price of SMM wet base film (7μm) is 1.8-2.2 yuan/m2, and the price of SMM wet base film (9μ m) The price is 1.2-1.5 yuan/square meter, and the average price is the same as last week. The price of SMM dry base film (16μm) is 0.9-1 yuan/square meter, the average price is the same as last week. The price of SMM wet coating base film (5μm+2μm) is 3-3.8 yuan/square meter, and the price of SMM wet coating base film (7μm+2μm) is 2.2-2.6 yuan/square meter Meters, the price of SMM wet-coated base film (9μm+3μm) is 1.8-2.5 yuan/square meter, and the average price is the same as last week.

Electrolyte: The price of electrolyte is flat this week. The price of raw materials has risen recently, and the purchase demand of downstream battery companies has risen. The market outlook may drive the increase in electrolyte prices. This week, the price of SMM electrolyte (for ternary power) is 35-45 thousand yuan/ton, the price of SMM electrolyte (for lithium iron phosphate) is 3-35 thousand yuan/ton, and the price of SMM electrolyte (for lithium cobalt oxide) is 5- The price of SMM electrolyte (for lithium manganate) is RMB 60,000/ton, and the price is RMB 15,000-25,000/ton. The average price is the same as last week.

Market outlook forecast: In terms of cobalt, the domestic cobalt raw material inventory is gradually eased, but it is still not sufficient. Combined with the support of raw material cost, the cobalt price may only be lowered slightly. In terms of lithium, the price of battery-grade lithium carbonate is expected to have a slight upward adjustment in early September. This is mainly due to the increase in procurement demand by enterprises at the beginning of the month, and large manufacturers have tight shipments and are strongly willing to increase prices. The extent of price changes in the market outlook still needs to be observed in downstream acceptance; The price of grade lithium hydroxide is expected to remain stable, mainly due to the unstable downstream demand of some enterprises.