Lithium Carbonate rallies to ¥140,000/t ($19,944), up 17.6% WoW. Futures-driven speculation and spot hoarding create bullish momentum.
LFP Power Grade rises to ¥49,700/t ($7,080), up 12.4% WoW as lithium costs flow through.
Electrolyte salt slides to ¥156,000/t ($22,223), down 5.5% WoW on overcapacity.
Mid-tier artificial anode holds at ¥27,500/t ($3,918). Producers capture margin from feedstock shifts.
Anode Materials
High-End Artificial
$7,621 USD/t
NCM Cathodes
5-Series (Single Crystal)
$23,135 USD/t
LFP Cathode
Power Grade
$7,080 USD/t
Lithium Carbonate
Battery Grade
$19,944 USD/t
LiOH
Battery Granular
$18,875 USD/t
LiPF₆
Average Market
$22,223 USD/t
LCO
4.35V Grade
$54,703 USD/t
LMO
Dynamical MnO₂
$7,693 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 sector experiencing direct lithium cost pass-through. LFP rose 12.4% WoW. NCM 613 at $23,135 and NCM 5 at $23,135.
Direct lithium cost pass-through across chemistries.
Market Analysis: LCE surged to ¥140,000/t ($19,944), up 17.6% WoW. Futures speculation and spot hoarding drive the rally.
Breaking higher around the $19.9k level.
LiOH trading at $1,068/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 (-5.5% WoW) as new capacity outpaces demand growth.
LiOH trades at $1,068/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.
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