Weekly Monitor: Energy Storage Continues to Support Lithium Battery Demand

Research evidence excerpt

Weekly Monitor: Energy Storage Continues to Support Lithium Battery Demand

Update

July 17, 2026 01:15 PM GMT

Morgan Stanley Asia Limited+MGreater China Materials | Asia Pacific Rachel L Zhang

Equity Analyst

Weekly Monitor: Energy Rachel.Zhang@morganstanley.comChris Jiang +852 2239-1520

Chris.Jiang@morganstanley.com +852 3963-1593

Storage Continues to Support Hannah Yang, CFA

Hannah.Yang1@morganstanley.com +852 2239-7079

Lithium Battery Demand Cynthia Tang

Research Associate

Cynthia.Tang@morganstanley.com +852 3963-4360

Key Takeaways

China unveils draft rules for long-term energy supply contracts, emphasizing

"base price+floating price" mechanism for port-based contracts.

Qinyuan County currently has two resumed coal mines, with a total approved

capacity of 3.6 million tons. Greater China Materials

Asia Pacific

Planned lithium battery production in July reached a record high, with energy Industry View Attractive

storage accounting for over 40% of demand.

DRC president ordered state revenue agencies to refrain from heavy-handed

enforcement operations against mining ‌companies.

Indonesia refuses to grant a comprehensive increase to the national nickel

production quota.

Base metals: Shanghai copper prices stayed flat and inventories declined 34.9%

WoW. Shanghai aluminum prices inched up 0.4% and inventories decreased 1.1%

compared to a week ago.

Battery metals: Domestic industrial- and battery-grade hydroxide prices decreased

5.6% WoW and 5.1% WoW, respectively. Industrial- and battery-grade lithium

carbonate prices dropped 4.9% and 4.7% WoW, respectively.

Gold: Prices slipped 3.6% WoW, to US$3,977/oz.

Steel: Shanghai HRC inched up 0.6% while CRC prices rose 0.1% WoW. Shanghai

rebar prices edged down 0.8% while Tangshan billet prices increased 0.7% WoW.