Battery-grade LCE softens to ¥164,000/t ($23,485), down 0.6% WoW as the rally pauses.
LFP Power Grade stable at ¥55,700/t ($7,976). Cost pass-through balanced.
Electrolyte salt slides to ¥138,000/t ($19,762), down 7.4% WoW on overcapacity.
Mid-tier artificial anode holds at ¥27,500/t ($3,938). Producers capture margin from feedstock shifts.
Anode Materials
High-End Artificial
$7,661 USD/t
NCM Cathodes
5-Series (Single Crystal)
$26,407 USD/t
LFP Cathode
Power Grade
$7,976 USD/t
Lithium Carbonate
Battery Grade
$23,485 USD/t
LiOH
Battery Granular
$22,554 USD/t
LiPF₆
Average Market
$19,762 USD/t
LCO
4.35V Grade
$57,138 USD/t
LMO
Dynamical MnO₂
$8,521 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 $7,976/t while NCM 613 at $26,407 consolidates.
Direct lithium cost pass-through across chemistries.
Market Analysis: LCE eases to ¥164,000/t ($23,485), down 0.6% WoW. Orderly pullback.
Consolidating around the $23.5k level.
LiOH trading at $931/t discount to LCE.
Declining on overcapacity.
LCE stabilizes after recent moves. Participants reassessing inventory positions.
LiPF₆ continues descent (-7.4% WoW) as new capacity outpaces demand growth.
LiOH trades at $931/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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