Battery Materials Market Intelligence

Market Snapshot: Week of January 15, 2026

Anode materials stable at $7,631/t amid persistent overcapacity. LFP at $8,102/t on strong EV and storage demand. LCO elevated at $56,201/t on cobalt strength. LiPF₆ elevated at $22,110/t. LCE battery-grade at $22,823/t. USD 1 = CNY 7.0105.

Anode Market

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Flat at $7,631/t as overcapacity persists. GPC $628/t · CPC $364/t · Needle coke $848/t.

Cathode Market

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LFP at $8,102/t on strong EV/storage demand. NCM 5-series $25,305/t · NCM 8-series $27,644/t. LCO elevated at $56,201/t.

Electrolyte Chain

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LiPF₆ remains elevated at $22,110/t. VC at $24,249/t · FEC at $9,985/t. EC at $956/t.

Anode Chain: Stability Amid Ongoing Overcapacity

Synthetic graphite holds steady: high-end $7,631/t · mid-end $3,923/t · low-end $2,853/t. Overcapacity continues to suppress price recovery. Key feedstocks: GPC $628/t · CPC $364/t · needle coke $848/t.

Anode Material Prices (Avg. USD/t)

Key Feedstock Trends (USD/t)

Cathode & Lithium: Elevated Prices on Strong Demand

LFP at $8,102/t supported by robust power and energy storage demand. NCM 5-series $25,305/t · NCM 8-series $27,644/t · LCO $56,201/t on cobalt strength · LMO $8,202/t. Battery-grade LCE at $22,823/t · LiOH (granular) $21,753/t.

Cathode Materials Pricing (USD/t)

LFP vs LCO Trend

Electrolyte Chain: Fluorine Crunch Drives Elevated Prices

LiPF₆ remains elevated at $22,110/t. VC at $24,249/t · FEC at $9,985/t. LiF supply and AHF availability remain key upstream variables. EC at $956/t. LiF and phosphorus pentachloride markets underpin LiPF₆ cost structure.

LiPF₆ Price (Avg. USD/t)

$22,110

▼ 3.9% vs $23,000 reference

FEC Price (Avg. USD/t)

$9,985

▼ 0.1% vs $10,000 reference

VC Price (Avg. USD/t)

$24,249

▲ 1.0% vs $24,000 reference

Electrolyte Components vs Reference (%)

Key Market Events This Week

Significant developments impacting the battery materials supply chain

LCE Climbs +14.4%

Battery-grade at $22,823/t

Lithium carbonate continued its rapid ascent as post-holiday restocking demand persisted. Spot market supply remained constrained as smelters ramped production gradually post-CNY. Futures curve remained steeply backwardated.

Lithium Salt +14.4% WoW

Impact: LCE at $22,823/t creates severe cost pressure across the cathode chain. Cell manufacturers accelerating price renegotiations with downstream customers.

LFP Rises +9.8%

Dynamic-type at $8,102/t

LFP prices extended gains as producers passed through higher lithium costs with minimal resistance. Power battery demand from NEV manufacturers remained robust despite elevated pricing. Energy storage procurement slowed modestly.

Cathode Material +9.8% WoW

Impact: LFP at $8,102/t is the highest level since early 2025. Margins for cathode producers remain thin as iron phosphate also firmed slightly.

LiPF₆ Softens −0.5%

At $22,110/t

LiPF₆ edged lower as downstream electrolyte blenders maintained cautious purchasing amid rising overall cell costs. Fluorite supply stable while AHF capacity utilization remained at normal levels.

Electrolyte Salt -0.5% WoW

Impact: LiPF₆ softness provides a rare cost relief point in the electrolyte chain. Additive prices (VC, FEC) remain stable reflecting balanced supply-demand.

Market Outlook

Lithium complex continues upward momentum in week 3 of 2026 with LCE reaching $22,823/t (+14.4% WoW) and LFP extending to $8,102/t (+9.8%). NCM 5-series rises to $25,000/t on cost push from LiOH at $21,753/t. The anode market holds steady at $7,631/t as overcapacity suppresses recovery. LiPF₆ is the lone softening data point at $22,110/t. Overall battery BOM inflation continues at pace unseen since 2022 lithium price surge. Supply chain stress is building in midstream cathode processing.