SHANGHAI, Dec 14 (SMM) — Precursor production in November was 39,000 mt, and the annual output is expected to reach 310,000 mt, an increase of nearly 20% year-on-year. Orders from the domestic motive power market continued to increase. Demand for precursors from major battery companies increased. Demand from small motive power market declined slightly. Newly built precursor producers began mass production. In November, export orders increased slightly, and demand from the European auto market was stable. Orders from energy storage sector increased.
Ternary material production in November was 28,000 mt, and the annual output is expected to reach 210,000 mt, an increase of 10% year-on-year. Rush by automakers to install batteries and growing consumer demand continued to boost orders at major battery makers. This, coupled with the commissioning of new capacity, contributed to the month-on-month increase in ternary materials output. Orders for 8-series products increased as demand from overseas battery companies increased and as foreign battery producers in China began to stockpile raw materials in preparation for new car models next year.
Output of ternary materials increased in November as automakers rushed to install batteries and added new car models
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