[SMM analysis] July LFP material export data released! Over 13,000 mt, a stage-wise slight pullback of 14.5%, demand support from North America and Southeast Asia remains strong!

Published: Aug 21, 2026 11:18

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SMM August 21: China's LFP cathode material export data for July 2026 was released. Customs data showed that exports totaled 13,153.3 mt in July, down 14.5% MoM from the historic peak in June, but still up about 380% YoY, with export activity staying high.

In terms of prices, the average export price in July was $9,107.45/mt, edging down about $17.6/mt MoM, a decline of only 0.2%, with prices remaining stable overall.

By region:

North America market,the US remained the main pillar of demand outside China. Exports to the US totaled 5,972.5 mt in July, up 10.4% MoM. Despite policy uncertainties, US domestic battery capacity continued to ramp up, keeping actual import demand rigid. Canada's exports fell from 2,464.5 mt in June to 1,443.4 mt, down 41.4% MoM, mainly due to a normal pullback after concentrated stockpiling by top-tier players such as LG Energy Solution in June.

Europe market,the recovery trend was further confirmed. Poland exports reached 889.5 mt, up 38.1% MoM, rebounding for the second consecutive month. Higher operating rates at LG's Poland plant and Northvolt's production lines continued to drive import demand for China's LFP cathode materials. Hungary recorded its first export of 16 mt in the month, indicating that CATL's Hungary plant had entered a small-batch stockpiling phase, laying the foundation for future volume growth in Europe.

Asia market,South Korea exports rebounded to 137.0 mt, up 70% MoM, reflecting that battery enterprises in Japan and South Korea still had rigid demand for cost-effective LFP cathode materials under cost reduction pressure. Thailand and Vietnam exported 2,089.6 mt and 660 mt, respectively, up 4.5% and 6.5% MoM, maintaining stable growth and providing steady support for the Southeast Asia market.

Overall, although July exports pulled back MoM, the absolute level remained historically high, and the core logic of robust overseas demand for LFP cathode materials remained unchanged. (Data source: SMM and customs import and export statistics)

SMM New Energy Research Team

Wang Cong 021-51666838

Feng Di-sheng 021-51666714

Yang Chaoxing 021-20707860

Wang Zihan 021-51666914

Wang Jie 021-51595902

Chen Bolin 021-51666836

Wang Yizhou 021-51595909

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

Lin Ziya 021-51666902

Yang Le 021-51595898

Li Yisha 021-51666730

Wang Zhaoyu 021-51666827

Xiao Wenhao 021-51666872

Zhang Jing 021-51666878

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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