SMM China LFP Output in February 2023

SHANGHAI, Mar 9 (SMM) - China produced 71,474 mt of LFP in February, an increase of 11% month-on-month and 34% year-on-year. LFP production recovered in February after drastic decline in January. Demand from power battery market recovered slowly, while demand from energy storage sector was relatively strong. The finished product inventory of LFP enterprises was relatively high amid limited new orders. As the prices of lithium carbonate kept falling in February, LFP companies were cautious about purchasing. The prices of iron phosphate were temporarily stable. Thus, the overall costs of LFP enterprises declined.