Prices of Battery Continued to Fall In April, But Will Rebound In May

In April 2023, prices of some key materials for battery were still on a downward track. For example, prices of industrial-grade and battery-grade lithium carbonate fell by 42% and 39% month-on-month respectively, lowering the cost of ternary battery and LFP battery by 12.3% and 15% respectively.

As the lower cost continued to weigh down the prices of battery, including power battery and energy storage battery, the end consumers started to stand on the sidelines, weakening the demand for battery further. As the prices of lithium salts rallied in the middle of the month, the downward pressure on battery prices gradually weakened.

Prices of battery in May are expected to rebound with lithium salt prices.

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