In November 2025, China's total phosphate ore imports continued to decrease by 4.0% MoM to 192,000 mt, while the total import value fell 1.5% MoM. The comprehensive national average import price increased by 2.6% MoM. China's phosphoric acid exports rose by 65.7% MoM to 48,000 mt, and the average export price continued to decline by 3.4% Mo

This week (January 16–22, 2026), the solid-state battery industry witnessed a surge of activity: on one hand, capital fervently chased after capacity blueprints, with tens of billions of yuan invested; on the other hand, technological pathways had yet to converge, and the path to industrialisation remained fraught with uncertainty. Large enterprises, such as Gotion High-tech, made substantial investments to secure their positions.

In December 2025, China's ternary precursor exports totaled 6,487 tons, marking a significant decline of 34% month-on-month and 49% year-on-year. South Korea maintained its position as China's primary export destination.

NCM 6-series materials solidified their dominant position within China's EV battery market. Capitalizing on this market shift, several domestic cathode material producers focusing on the mid-to-high nickel segment delivered outstanding performances. Simultaneously, the overseas ternary market maintained its focus on high-nickel materials.

Lithium carbonate, as a core raw material in the lithium battery industry chain, has seen recent price fluctuations driving up lithium battery production costs.

This week (January 9-15, 2026), the solid-state battery industry entered a phase of comprehensive acceleration driven by national strategic initiatives. The MIIT explicitly listed "all-solid-state battery technology breakthrough" as a key task, providing top-level guidance for the industry. Critical links in the industry chain made simultaneous progress: the sulphide route achieved substantial advancements in materials, pilot production, and equipment orders; meanwhile, cutting-edge applications, represented by the low-altitude economy, led in commercialization.

Core View: In 2025, China's iron phosphate industry entered a phase of structural tight balance. The total designed capacity is expected to reach 5.6 million mt by year-end, but effective capacity will fall short of 5 million mt. The market is supported by both the "external sales" model (54%) and the "integrated" model (46%), with top-tier enterprises such as Brunp, Tinci, and CNGR dominating the supply landscape. Entering 2026, as companies like Guizhou Yayou shift toward internal supply, new capacity releases lag, and key raw materials such as sulfur and ferrous sulphate face tightening supply, the industry will confront more severe supply pressures and cost challenges. Iron phosphate prices are expected to remain above 12,000 yuan/mt, with enterprises operating at break-even to marginal profitability.

LiPure Energy is a startup focused on solid-state batteries with polymer and silicon carbon anodes. Its first-generation 0.5Ah–50Ah products have passed extreme safety tests and received authoritative certification. The company is advancing capacity construction, with a 1 GWh ESS battery project in Jiangxi already entering the environmental impact assessment stage. Through bank credit lines, partnerships with equipment suppliers, and pilot projects, the company is accelerating its transition from R&D to market applications, initially targeting e-bike battery swapping and ESS scenarios.