Latest Update in the SMM Artificial Graphite Market

With Gasgoo Daily, we will offer daily important automotive news in China.

On September 13, XPENG's new-generation S5 ultra-fast charging stations officially came online in four cities, namely, Shanghai, Tianjin, Zhengzhou, and Wuhan, according to XPENG's press release.

On September 13, ReachAuto, the automotive software arm of Neusoft, signed a strategic cooperation agreement with open source compiler vendor HighTec.

【SMM Analysis】Grenergy and BYD have expanded their supply agreement in Chile to support the world's largest BESS project, Oasis de Atacama. The agreement now encompasses the third phase of the project, with a total capacity reaching 3 GWh, which is also BYD's largest contract to date.

On September 11, GAC Group's flying car model, GOVE, was granted a special flight permit by the CAAC (Civil Aviation Administration of China) Central and Southern Regional Administration

This week (2024.09.09-2024.09.13), the spot price of lithium carbonate turned from a decline to a rise. The SMM battery-grade lithium carbonate index price increased from 72,107 yuan/mt to 73,723 yuan/mt, an increase of 1,616 yuan/mt. Under the current situation of stable supply and growing demand, the spot price of lithium carbonate is expected to rise. However, considering the cumulative domestic inventory of lithium carbonate, the oversupply situation is unlikely to change in the short term, which will pose some obstacles to the current price rise of lithium carbonate.

【SMM Analysis：Weak Demand for EMM, Prices Fluctuate Downward.】In August 2024, the domestic spot average price of EMM (main production areas) was 12,572.73 yuan/mt, down 4.47% MoM. The FOB monthly average price of EMM was $1,778.41/mt, down 3.91% MoM. Supply side, most EMM plants maintained stable production schedules, but significant production cuts occurred in Guangxi and Guizhou due to severe losses on production, leading to a decrease in overall EMM production in August. Demand side, although the total production of stainless steel showed an upward trend in August, high EMM inventory led steel mills to prefer lower prices during procurement. In summary, the EMM market remains oversupplied, causing a slight price decline. In early September 2024, the continuous decline in spot EMM prices squeezed the profit margins of EMM plants, resulting in a general tendency to hold prices firm, causing a slight price rebound. However, entering late September, EMM prices are expected to continue fluctuating downward. Supply side, despite slight production cuts by some EMM plants due to production pressure, the overall oversupply situation persists. Demand side, stainless steel mills have low acceptance of high-priced EMM and prefer to purchase other alternative manganese alloy products, leading to low procurement enthusiasm for EMM. In summary, the price outlook for EMM is expected to continue weakening.

On September 13, Benoit Jacob, a globally renown master of automotive design and a key figure in the electric vehicle (EV) industry, officially joined GAC Group as Global Executive Design Director of ...