China is aggressively expanding LFP battery recycling capacity, turning low-value scrap into a volume game. Meanwhile, the West pivots to secure graphite supply chains amid new critical mineral designations.

Indonesia’s dominance in nickel is showing cracks as domestic ore shortages force imports from the Philippines, reshaping the cost structure for Class 1 nickel and intermediates.

Lithium markets are gripped by extreme volatility as Chinese futures hit limit-up highs before crashing, driven by conflicting signals of 2026 shortages and current surpluses.

LFP batteries now claim over 82% of China's market. Now, sodium-ion batteries are emerging as a low-cost, cold-weather alternative.

Australia diversifies lithium exports beyond China as POSCO secures major offtake. US projects like Thacker Pass and Stardust Power advance.

Nickel prices plummeted this week, breaking key support levels, while cobalt prices held firm and rose on supply-tightening fears from the DRC.

China nickel sulfate holds near ¥28.3k/t; manganese sulfate inches up. NCM costs steady, LFP’s iron phosphate edges higher.

DRC export quotas and constrained feedstock are lifting cobalt prices and black mass payables; sulfate leads cathode cost signals.

Brazil’s momentum, DLE scale-up in North America and a temporary US-China tariff/export-control truce underpin firmer lithium prices.

China’s EV tax transition and ESS demand are lifting lithium prices into year-end, but supply surplus and GFEX volatility temper the trend.