Lithium Carbonate rallies to ¥119,000/t ($16,920), up 3.5% WoW. Futures-driven speculation and spot hoarding create bullish momentum.
LFP Power Grade dips to ¥44,200/t ($6,285), down 2.9% WoW on lithium correction.
Electrolyte salt slides to ¥165,000/t ($23,460), down 4.1% WoW on overcapacity.
Mid-tier artificial anode holds at ¥27,500/t ($3,910). Producers capture margin from feedstock shifts.
Anode Materials
High-End Artificial
$7,607 USD/t
NCM Cathodes
5-Series (Single Crystal)
$21,527 USD/t
LFP Cathode
Power Grade
$6,285 USD/t
Lithium Carbonate
Battery Grade
$16,920 USD/t
LiOH
Battery Granular
$15,640 USD/t
LiPF₆
Average Market
$23,460 USD/t
LCO
4.35V Grade
$54,030 USD/t
LMO
Dynamical MnO₂
$7,109 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 easing on lithium correction. LFP dipped 2.9% WoW to $6,285/t.
Direct lithium cost pass-through across chemistries.
Market Analysis: LCE surged to ¥119,000/t ($16,920), up 3.5% WoW. Futures speculation and spot hoarding drive the rally.
Breaking higher around the $16.9k level.
LiOH trading at $1,280/t discount to LCE.
Declining on overcapacity.
Futures-driven buying continues to push LCE higher. Spot traders suspending offers in anticipation of further gains.
LiPF₆ continues descent (-4.1% WoW) as new capacity outpaces demand growth.
LiOH trades at $1,280/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: The divergence between rising lithium and falling electrolyte creates asymmetric risk. Cell manufacturers face margin compression as cathode costs rise while electrolyte savings partially offset.
D3CT Recommendation: Lock in electrolyte contracts at current favorable levels while hedging lithium exposure. The technical efficiency of your supply chain will determine who captures margin.
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