Battery Materials Market Intelligence

Market Snapshot: Week of January 8, 2026

Anode materials stable at $7,621/t amid persistent overcapacity. LFP at $7,379/t on strong EV and storage demand. LCO elevated at $54,703/t on cobalt strength. LiPF₆ elevated at $22,223/t. LCE battery-grade at $19,944/t. USD 1 = CNY 7.0197.

Anode Market

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Flat at $7,621/t as overcapacity persists. GPC $620/t · CPC $356/t · Needle coke $840/t.

Cathode Market

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LFP at $7,379/t on strong EV/storage demand. NCM 5-series $23,135/t · NCM 8-series $25,186/t. LCO elevated at $54,703/t.

Electrolyte Chain

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LiPF₆ remains elevated at $22,223/t. VC at $24,930/t · FEC at $9,972/t. EC at $954/t.

Anode Chain: Stability Amid Ongoing Overcapacity

Synthetic graphite holds steady: high-end $7,621/t · mid-end $3,918/t · low-end $2,849/t. Overcapacity continues to suppress price recovery. Key feedstocks: GPC $620/t · CPC $356/t · needle coke $840/t.

Anode Material Prices (Avg. USD/t)

Key Feedstock Trends (USD/t)

Cathode & Lithium: Elevated Prices on Strong Demand

LFP at $7,379/t supported by robust power and energy storage demand. NCM 5-series $23,135/t · NCM 8-series $25,186/t · LCO $54,703/t on cobalt strength · LMO $7,693/t. Battery-grade LCE at $19,944/t · LiOH (granular) $18,875/t.

Cathode Materials Pricing (USD/t)

LFP vs LCO Trend

Electrolyte Chain: Fluorine Crunch Drives Elevated Prices

LiPF₆ remains elevated at $22,223/t. VC at $24,930/t · FEC at $9,972/t. LiF supply and AHF availability remain key upstream variables. EC at $954/t. LiF and phosphorus pentachloride markets underpin LiPF₆ cost structure.

LiPF₆ Price (Avg. USD/t)

$22,223

▼ 3.4% vs $23,000 reference

FEC Price (Avg. USD/t)

$9,972

▼ 0.3% vs $10,000 reference

VC Price (Avg. USD/t)

$24,930

▲ 3.9% vs $24,000 reference

Electrolyte Components vs Reference (%)

Key Market Events This Week

Significant developments impacting the battery materials supply chain

LCE Surges +22.6%

Battery-grade at $19,944/t

Lithium carbonate surged sharply as Chinese New Year restocking drove aggressive buying. Futures premiums widened as traders anticipated Q1 2026 supply tightness. Spot offers tightened with sellers holding firm on elevated ask prices.

Lithium Salt +22.6% WoW

Impact: Rapid LCE acceleration provides strong cost push to all cathode materials. LFP and NCM producers face significant margin pressure. Q1 2026 BOM costs expected to rise 15–20% vs Q4 2025.

LiOH Spikes +37.9%

Granular at $18,875/t

Lithium hydroxide surged in tandem with LCE as spodumene prices firmed globally. Major lithium salt producers held production steady while committing to long-term contracts. Spot availability tightened sharply.

NCM Precursor +37.9% WoW

Impact: LiOH spike supports NCM 8-series cathode costs significantly. High-nickel chemistry producers face the steepest cost increases. Forward contracts at premium to spot becoming standard.

LFP Jumps +14.3%

Dynamic-type at $7,379/t

LFP market surged as raw material costs rose sharply. Iron phosphate and lithium carbonate both moved higher simultaneously. Enterprises restocked aggressively ahead of Chinese New Year holiday production shutdowns.

Cathode Material +14.3% WoW

Impact: LFP price acceleration reflects full cost pass-through from lithium complex. Energy storage system developers face higher cell procurement costs in Q1 2026.

Market Outlook

Lithium complex enters 2026 in a sharply bullish configuration with LCE surging +22.6% to $19,944/t and LiOH spiking +37.9% to $18,875/t. Pre-CNY restocking is the primary driver alongside speculative positioning in futures markets. LFP rises +14.3% to $7,379/t reflecting full cost pass-through. Anode market remains stable at $7,621/t with overcapacity acting as a floor. LiPF₆ softening to $22,223/t as demand-side weakness in electrolyte persists. Q1 2026 battery BOM costs face significant upward pressure across the supply chain.