Battery Materials Market Intelligence

Market Snapshot: Week of January 22, 2026

Anode materials stable at $7,639/t amid persistent overcapacity. LFP at $8,267/t on strong EV and storage demand. LCO elevated at $56,544/t on cobalt strength. LiPF₆ elevated at $21,275/t. LCE battery-grade at $23,560/t. USD 1 = CNY 7.0034.

Anode Market

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Flat at $7,639/t as overcapacity persists. GPC $628/t · CPC $364/t · Needle coke $849/t.

Cathode Market

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LFP at $8,267/t on strong EV/storage demand. NCM 5-series $26,187/t · NCM 8-series $29,100/t. LCO elevated at $56,544/t.

Electrolyte Chain

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LiPF₆ remains elevated at $21,275/t. VC at $23,560/t · FEC at $9,995/t. EC at $921/t.

Anode Chain: Stability Amid Ongoing Overcapacity

Synthetic graphite holds steady: high-end $7,639/t · mid-end $3,927/t · low-end $2,856/t. Overcapacity continues to suppress price recovery. Key feedstocks: GPC $628/t · CPC $364/t · needle coke $849/t.

Anode Material Prices (Avg. USD/t)

Key Feedstock Trends (USD/t)

Cathode & Lithium: Elevated Prices on Strong Demand

LFP at $8,267/t supported by robust power and energy storage demand. NCM 5-series $26,187/t · NCM 8-series $29,100/t · LCO $56,544/t on cobalt strength · LMO $8,424/t. Battery-grade LCE at $23,560/t · LiOH (granular) $22,061/t.

Cathode Materials Pricing (USD/t)

LFP vs LCO Trend

Electrolyte Chain: Fluorine Crunch Drives Elevated Prices

LiPF₆ remains elevated at $21,275/t. VC at $23,560/t · FEC at $9,995/t. LiF supply and AHF availability remain key upstream variables. EC at $921/t. LiF and phosphorus pentachloride markets underpin LiPF₆ cost structure.

LiPF₆ Price (Avg. USD/t)

$21,275

▼ 7.5% vs $23,000 reference

FEC Price (Avg. USD/t)

$9,995

▼ 0.1% vs $10,000 reference

VC Price (Avg. USD/t)

$23,560

▼ 1.8% vs $24,000 reference

Electrolyte Components vs Reference (%)

Key Market Events This Week

Significant developments impacting the battery materials supply chain

LCE Peaks +3.2%

Battery-grade at $23,560/t

Lithium carbonate reached its highest level in over a year before showing signs of stabilization. Trading activity remained elevated but acceptance of high-priced spot offers became more selective. Some downstream buyers stepped back on price resistance.

Lithium Salt +3.2% WoW

Impact: LCE approaching potential resistance level. Price stabilization signals the market may be finding a near-term ceiling. Downstream battery producers increasingly pushing back on cost pass-through.

LiOH Holds Firm +1.4%

Granular at $22,061/t

Lithium hydroxide maintained its elevated level with modest incremental gains. Spodumene market held firm globally as Australian miners maintained discipline on spot sales. NCM precursor producers continued operating on long-term contract commitments.

NCM Precursor +1.4% WoW

Impact: LiOH stability at $22,061/t keeps NCM cathode costs elevated. High-nickel EV battery supply contracts under renegotiation pressure.

LiPF₆ Eases −3.8%

At $21,275/t

LiPF₆ declined as electrolyte producers adjusted output to match more measured downstream demand. AHF availability improved modestly. Some spot transactions occurred below the previous week's average as buyers waited for further declines.

Electrolyte Salt -3.8% WoW

Impact: LiPF₆ easing from peak adds relief to electrolyte chain. VC and FEC pricing stable. Overall electrolyte BOM costs declining slightly from January highs.

Market Outlook

Battery materials market approaches a potential inflection point in late January. LCE at $23,560/t (+3.2%) shows decelerating momentum after the sharp January run-up. LiOH holds at $22,061/t while LFP extends to $8,267/t. LiPF₆ declining −3.8% to $21,275/t is an early signal that electrolyte chain is correcting. Anode market continues stable at $7,639/t. The key question is whether LCE can sustain above $23,000/t as downstream resistance builds. A potential price correction in February could provide relief to battery manufacturers.