Latest Update in the SMM Battery Cell And Module Market

According to SMM data, from August 19 to August 23, the weekly average price of 1# copper cathode was 73,790 yuan/mt, up 1.97% WoW; the weekly average price of bare bright copper in east China was 68,020 yuan/mt, up 2.47% WoW; the weekly average price of baled copper cable scrap (Cu＞99.5%) was 68,220 yuan/mt, up 2.47% WoW.

Without noticing it, nearly half of 2024 has passed. Looking back at the lithium carbonate market since the beginning of the year has been tumultuous. Since the beginning of the year, the price of battery-grade lithium carbonate has risen from 96,900 RMB/ton to a high of 113,000 RMB/ton, and then experienced a downward trend in recent days after nearly two months of market fluctuations.

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["Reverse Invoicing" Topic Reignites Heated Discussions: What Are the Dynamics of Recycled Rod Plants?] Based on SMM's survey results, most enterprises in various regions generally adopt a wait-and-see attitude. If the "reverse invoicing" policy is fully implemented in 2025, the actual tax burden on recycled rod plants is expected to increase by at least 1.5%, up to approximately 1.9%. Enterprises found by the tax bureau to still be using "white slips" for accounting will be subject to a tax levy of 2% of their revenue. During the transition period, any handling method will pose significant pressure on recycled rod plants.

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Piedmont Lithium announced a significant workforce reduction of 27% to curb costs, with plans to save around $10 million annually on 6 February.

Abigail Ross Hopper, CEO of the USITC, said “The United States’ ability to lead the global clean energy transition and improve grid reliability depends on how quickly we expand domestic production and deploy the lithium-ion battery energy storage technology.”

The head of a mining association said on Wednesday that the Australian government is considering implementing tax exemptions for companies that build processing facilities to increase the value of green energy minerals such as nickel and lithium.