SHANGHAI, Dec 22 (SMM) – China produced 51,980 mt of LFP in November, an increase of 14.4% month on month and 176% year on year.
The impact of the dual control of energy consumption was further alleviated in November, and most manufacturers recovered the normal production.
Some manufacturers delayed the commissioning of some production lines due to the earlier power rationing, and they ramped up the operationg of these production lines after the restrictions were lifted. As such, the overall supply in the market increased.
On the demand side, the production and sales of new energy vehicles increased rapidly, and the application ratio of LFP kept rising on its high cost effectiveness. The demand of LFP was also growing as the users in the E-Bike battery market were using LFP to replace ternary cathode materials and LMO.
China’s output put of LFP is expected to stand at 55,347 mt in December 2021, up 65.% MoM and 179.4% YoY.