Weekly Overview of the LFP Market [SMM Analysis]

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SMM, February 20 – This week, the LFP market price remained relatively stable. Lithium carbonate prices dropped slightly by about 30 yuan/mt this week, while processing fees showed no significant changes. Regarding lithium carbonate discounts, downstream battery cell manufacturers generally maintained a sentiment of further discount suppression, but the results varied depending on the negotiation terms between the parties. Supply side, the overall operating rates of LFP material manufacturers remained relatively stable this week, though some medium-sized and small LFP manufacturers experienced production cuts or shutdowns, while leading material manufacturers maintained stable production. Demand side, some downstream battery cell manufacturers slightly reduced their February procurement volume, leading to minor adjustments in certain supply chain structures. Overall, February inventory remained in a state of inventory buildup.

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