[SMM Analysis] Weekly Price Situation of LFP

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SMM, January 23 - This week, the LFP market prices remained relatively stable, with a relatively small increase. Except for a slight rise in mid-end power prices, other categories showed no significant increase. On one hand, lithium carbonate prices did not fluctuate significantly this week, rising by about 50 yuan/mt. On the other hand, processing fees saw a slight increase for some material manufacturers due to iron phosphate prices fluctuating at highs recently. This week, the processing fee for mid-end power (pressed density 2.5 g/cc) slightly increased, while the processing fees for high-end power (secondary sintered products) and ESS remained stable without significant growth. Supply side, the overall operating rates of LFP material manufacturers were relatively stable this week. Notably, first- and second-tier material manufacturers did not take a break during the Chinese New Year, while some small- and medium-sized manufacturers slightly reduced production. Additionally, due to the Chinese New Year period, some logistics services were suspended, and logistics costs significantly increased, which will impact delivery schedules to some extent. Demand side, the production schedules of downstream LFP battery cell manufacturers for January and February remained strong, showing a significant increase compared to the same period last year.

SMM New Energy Research Team

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Ying Xu 021-51666707

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Jie Wang 021-51595902

Yang Xu 021-51666760

Boling Chen 021-51666836