Battery Materials Market Intelligence

Market Snapshot: Week of February 12, 2026

Anode materials stable at $7,699/t amid persistent overcapacity. LFP at $7,540/t on strong EV and storage demand. LCO elevated at $56,984/t on cobalt strength. LiPF₆ easing at $18,275/t. LCE battery-grade at $20,578/t. USD 1 = CNY 6.9493.

Anode Market

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Flat at $7,699/t as overcapacity persists. GPC $637/t · CPC $367/t · Needle coke $889/t.

Cathode Market

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LFP at $7,540/t on strong EV/storage demand. NCM 5-series $25,384/t · NCM 8-series $29,039/t. LCO elevated at $56,984/t.

Electrolyte Chain

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LiPF₆ easing at $18,275/t. VC at $21,729/t · FEC at $9,785/t. EC at $907/t.

Anode Chain: Stability Amid Ongoing Overcapacity

Synthetic graphite holds steady: high-end $7,699/t · mid-end $3,957/t · low-end $2,878/t. Overcapacity continues to suppress price recovery. Key feedstocks: GPC $637/t · CPC $367/t · needle coke $889/t.

Anode Material Prices (Avg. USD/t)

Key Feedstock Trends (USD/t)

Cathode & Lithium: Elevated Prices on Strong Demand

LFP at $7,540/t supported by robust power and energy storage demand. NCM 5-series $25,384/t · NCM 8-series $29,039/t · LCO $56,984/t on cobalt strength · LMO $8,490/t. Battery-grade LCE at $20,578/t · LiOH (granular) $20,146/t.

Cathode Materials Pricing (USD/t)

LFP vs LCO Trend

Electrolyte Chain: LiPF₆ Easing From 2026 Peak

LiPF₆ easing at $18,275/t. VC at $21,729/t · FEC at $9,785/t. LiF supply and AHF availability remain key upstream variables. EC at $907/t. LiF and phosphorus pentachloride markets underpin LiPF₆ cost structure.

LiPF₆ Price (Avg. USD/t)

$18,275

▼ 20.5% vs $23,000 reference

FEC Price (Avg. USD/t)

$9,785

▼ 2.1% vs $10,000 reference

VC Price (Avg. USD/t)

$21,729

▼ 9.5% vs $24,000 reference

Electrolyte Components vs Reference (%)

Key Market Events This Week

Significant developments impacting the battery materials supply chain

LCE Recovers +2.3%

Battery-grade at $20,578/t

Lithium carbonate stabilized and edged higher after the sharp February correction. Some restocking demand emerged from cathode producers who had drawn down inventories. Futures market showed modest backwardation normalizing. Physical market sentiment cautiously stabilizing.

Lithium Salt +2.3% WoW

Impact: LCE stabilization at $20,578/t suggests a new trading range is forming. The sharp Jan-Feb cycle appears to have exhausted directional momentum. Procurement windows at $19,500–21,000/t range.

LFP Firms +1.7%

Dynamic-type at $7,540/t

LFP prices stabilized and recovered modestly as buyers returned after the correction. Iron phosphate costs held steady. NEV production schedules for March quarter drove replenishment purchasing. Energy storage project developers actively bidding on Q2 cell supply.

Cathode Material +1.7% WoW

Impact: LFP at $7,540/t finding support above the $7,400 level. The market has structurally re-priced from 2025 lows. Sustainable range appears $7,200–8,000/t through mid-2026.

LiPF₆ Eases −2.1%

At $18,275/t

LiPF₆ continued modest easing as electrolyte producers maintained competitive pricing to rebuild volumes after the January demand pause. AHF supply remained adequate. Downstream blenders cautiously restocking at favorable price points.

Electrolyte Salt -2.1% WoW

Impact: LiPF₆ continued softening provides persistent relief in the electrolyte chain. The additive market (VC, FEC) also stabilizing. Q1 2026 electrolyte costs tracking 10–15% below January peak.

Market Outlook

Battery materials market finds equilibrium in week 7 of 2026 with LCE recovering modestly to $20,578/t (+2.3%) and LFP firming to $7,540/t (+1.7%). The sharp January spike and February correction cycle appears to be resolving into a new, structurally higher trading range. LiOH eases to $20,146/t while LiPF₆ continues gradual decline to $18,275/t. Anode market drifts higher at $7,699/t reflecting slow feedstock cost creep. Overall battery BOM costs have stabilized approximately 15–20% above December 2025 levels. The rest of Q1 2026 is expected to see range-bound trading with modest volatility.