LFP Prices Continued to Rise This Week! [SMM Analysis]

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SMM, January 16 – This week, the LFP market price continued the upward trend from last week, with an overall average increase of about 430 yuan/mt. The main reason for this week's price increase was the significant upward trend in lithium carbonate prices, which rose by approximately 1,125 yuan/mt. Recently, the rise in iron phosphate prices has driven an overall sentiment to stand firm on quotes among LFP material manufacturers. Processing fees for orders from some material manufacturers saw a slight increase, but the overall price hike was not significant, and processing fees remained stable this week. In terms of supply, LFP material manufacturers maintained relatively active production this week, with no significant production cuts observed. As of now, there are no reports of material manufacturers planning to halt production during the Chinese New Year. However, starting next week, some companies are expected to experience slight production declines due to pre-holiday logistics impacts and a slight reduction in labor force, though the overall reduction is not expected to be significant. The monthly production forecast for this period is expected to see a slight increase compared to the previous forecast. In terms of demand, the production schedules of downstream battery cell manufacturers for January and February are relatively strong, showing significant growth compared to the same period last year.

SMM New Energy Research Team

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Ying Xu 021-51666707

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Yushuo Liang 021-20707892

Jie Wang 021-51595902

Yang Xu 021-51666760

Boling Chen 021-51666836