Battery-grade LCE softens to ¥156,000/t ($22,682), down 1.9% WoW as the rally pauses.
LFP Power Grade stable at ¥56,500/t ($8,215). Cost pass-through balanced.
Electrolyte salt slides to ¥98,000/t ($14,249), down 6.7% WoW on overcapacity.
Mid-tier artificial anode holds at ¥27,500/t ($3,998). Producers capture margin from feedstock shifts.
Anode Materials
High-End Artificial
$7,779 USD/t
NCM Cathodes
5-Series (Single Crystal)
$26,520 USD/t
LFP Cathode
Power Grade
$8,215 USD/t
Lithium Carbonate
Battery Grade
$22,682 USD/t
LiOH
Battery Granular
$21,010 USD/t
LiPF₆
Average Market
$14,249 USD/t
LCO
4.35V Grade
$57,431 USD/t
LMO
Dynamical MnO₂
$8,578 USD/t
Artificial Graphite remains the dominant power baseline.
GPC and needle coke markets remain largely stable. Anode producers continue operating with measured inventory management.
Anode enterprises producing on strict "sales-based" model to avoid inventory bloat. Supply discipline keeping prices stable.
Transition to LWG furnaces (2,500-3,000 kWh/MT) from Acheson (4,000-4,800 kWh/MT) enables massive margin capture for advanced producers.
Cathode Dynamics:Cathode prices stable. LFP holds at $8,215/t while NCM 613 at $26,811 consolidates.
Direct lithium cost pass-through across chemistries.
Market Analysis: LCE eases to ¥156,000/t ($22,682), down 1.9% WoW. Orderly pullback.
Consolidating around the $22.7k level.
LiOH trading at $1,672/t discount to LCE.
Declining on overcapacity.
LCE stabilizes after recent moves. Participants reassessing inventory positions.
LiPF₆ continues descent (-6.7% WoW) as new capacity outpaces demand growth.
LiOH trades at $1,672/t discount to LCE, signaling oversupply in high-nickel chemistry.
Graphite anode enterprises continue "sales-based" production model. Despite feedstock cost movements, prices stable as manufacturers prioritize margin.
Risk Warning: Market consolidation creates opportunities for strategic positioning. The balance between lithium, electrolyte, and cathode costs is shifting.
D3CT Recommendation: Use the current stability to reassess supply chain efficiency. Focus on technology-driven cost reduction rather than relying on market pricing.
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