LiPF₆ dropped to ¥110,000/t ($15,940), down 4.3% WoW as oversupply persists and some producers plan turnarounds. Ternary and LFP electrolyte formulations fell 4.5% and 3.1% respectively. FEC plunged 4.7% to ¥61,000/t. Significant cost relief for battery cell manufacturers on the electrolyte front.
Battery-grade LCE firmed to ¥158,000/t ($22,896), up 1.9% WoW as lithium salt enterprises actively shipped and downstream cathode makers purchased on rigid demand. LCE futures fluctuated greatly during the week. Supply rose slightly from production resumptions; inventory stayed low. Outlook: range-bound.
GPC market surged +3.5% WoW to ¥3,189/t as major refineries continued raising prices. Needle coke rose ¥150–240/t (oil-based). Coal tar pitch spiked ~¥500/t in most regions on tight regional supply and strong coal tar support. Anode margins under heavy pressure with flat selling prices.
LFP power grade rose to ¥56,200/t ($8,144), up 1.4% WoW. Large LFP enterprises held high production while demand from both power and energy storage sectors remained bullish. Iron phosphate upstream edged up further. NCM, LCO, and LMO all held flat as markets enter a stabilization phase.
Anode High-End
Artificial Graphite
$7,753 USD/t
Anode Mid-Tier
Artificial Graphite
$3,985 USD/t
Anode Low-End
Artificial Graphite
$2,898 USD/t
LCE Bat-Grade
Battery Grade 99.5%
$22,896 USD/t
LCE Ind-Grade
Industrial 99.2%
$22,461 USD/t
LiOH Granular
Battery Grade
$21,809 USD/t
LiOH Micro-Powder
Battery Grade
$22,606 USD/t
LiPF₆
Average Market
$15,940 USD/t
Ternary Electrolyte
Formulation
$4,565 USD/t
LFP Electrolyte
Formulation
$4,492 USD/t
FEC Additive
Electrolyte Additive
$8,840 USD/t
VC Additive
Electrolyte Additive
$21,592 USD/t
NCM 5-Series
Single Crystal
$26,287 USD/t
NCM 613
Single Crystal
$26,577 USD/t
LFP Power Grade
Power Grade
$8,144 USD/t
LCO 4.2v
Consumer Grade
$57,240 USD/t
Selling prices flat for 6 weeks — feedstock costs accelerating.
Low-sulfur GPC averaged ¥3,189/t (+3.5% WoW). Sinopec GPC up ¥120-400/t, CNPC/PetroChina up ¥100-300/t, CNOOC up ¥150-350/t. Anode enterprises want to raise prices but fierce mid/low-end competition prevents it. Heavy operation pressure.
Oil-based needle coke up ¥150-240/t. Coal tar pitch jumped ~¥500/t in most regions to ¥5,300-5,500/t on regional supply crunch and coal tar cost support. Total anode feedstock cost climbing rapidly while downstream cell plants push prices down.
Anode supply grew further WoW. Large enterprises maintain high production while small/mid producers run on orders. New capacity gradually releasing. EV policy demand improving but overcapacity means weak bargaining power. Market expected to stay flat.
Cathode Dynamics:LFP firms +1.4% to $8,144 on strong demand from power and energy storage. New capacity in Central/Northwest China gradually releasing. NCM stabilized at $26,287 with enterprises producing on orders. LCO flat at $57,240 — enterprises committed to early contracts; fresh orders rare. LMO stable amid cautious offers.
LFP firms while NCM/LCO/LMO stabilize post-correction.
Market Analysis: LCE stepped up then inched down during the week, settling at ¥158,000/t ($22,896), up 1.9% WoW. Lithium salt enterprises actively shipped immediate orders. Downstream cathode makers restocked on rigid demand. LCE supply rose slightly from production resumptions but inventory stayed low. Outlook: range-bound in the near term.
Partial rebound from $22.4k to $22.9k — stabilizing.
LiOH stable at $21,809/t (granular). Supply tight.
Plunges to $15,940/t (−4.3% WoW) — oversupply persists.
LiPF₆ fell to ¥110,000/t ($15,940, −4.3%) as oversupply continues. Ternary electrolyte −4.5% to $4,565; LFP electrolyte −3.1% to $4,492. FEC plunged 4.7% to $8,840. Major cost relief for cell producers. LiPF₆ expected to drop further ¥2,000–5,000/t next week.
Battery-grade LCE firmed to ¥158,000/t ($22,896) after last week's sharp correction. Futures volatile intraweek. Lithium salt producers actively shipped spot cargoes. Cathode makers restocked at corrected prices. LCE inventory remains lean, supporting a price floor.
GPC averaged ¥3,189/t (+3.5% WoW). Coal tar pitch spiked ¥500/t across most regions to ¥5,300–5,500/t on tight supply and high coal tar prices. Needle coke up ¥150–240/t (oil-based). Anode producers caught between rising inputs and flat-to-falling selling prices.
LFP power grade rose to ¥56,200/t ($8,144) on active procurement from battery cell plants. Iron phosphate upstream edged up further. LFP inventory dropped on destocking. New capacity in Central/Northwest China gradually releasing. Outlook: firm in the near term.
Risk Warning: The electrolyte chain cost reset is real — lock in LiPF₆ procurement now before potential turnaround-driven supply tightening. However, the anode feedstock cost surge (GPC +3.5%, pitch +¥500/t, needle coke rising) is creating an unsustainable squeeze. Expect anode price hike attempts in coming weeks.
D3CT Recommendation: Accelerate LFP cathode procurement before further firming from demand-side pull. Monitor LCE for ¥155,000–160,000/t range stability — a break above ¥165,000/t would signal a second leg up. For anode supply chains, the GPC/pitch/needle coke triple-surge makes Q2 contracts urgent — negotiate now before further escalation.
Access real-time, granular intelligence on the lithium-ion battery supply chain. Delta3CoreTec helps you navigate the technical and commercial black boxes.
FOLLOW ON LINKEDIN