Market Changes in LFP at March Month-End [SMM Analysis]

Published: Mar 27, 2025 18:36

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【SMM Analysis: LFP Production Growth in March Fell Short of Expectations, April Growth Momentum Expected to Slow】This week, the LFP market remained stable overall, with relatively small price fluctuations. On the raw material side, the average price of lithium carbonate stayed steady, and the processing fee remained unchanged. However, the price of iron phosphate has shown a slight upward trend recently, prompting material manufacturers to consider proposing an increase in processing fees to downstream battery cell manufacturers for Q2. Supply side, LFP material manufacturers maintained stable production activity this week, but some top-tier enterprises saw a reduction in order volumes compared to the full production plan at the beginning of the month, resulting in actual production falling short of the scheduled expectations. Nevertheless, overall production still increased compared to February. Demand side, downstream battery cell manufacturers significantly ramped up production schedules compared to February, particularly with a notable rise in demand for power battery cells and high-density materials. LFP production growth in April is expected to slow.

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SMM March 27 news, the LFP market remained stable this week, with relatively small price fluctuations. On the raw material side, the average price of lithium carbonate remained steady this week, and the processing fee also showed no changes. However, the price of iron phosphate has recently shown a slight upward trend, prompting material manufacturers to consider proposing an increase in the Q2 processing fee to downstream battery cell manufacturers. Supply side, LFP material manufacturers maintained stable production enthusiasm this week, but some top-tier enterprises saw a reduction in order volume compared to the full production plan at the beginning of the month, and actual production did not meet the production schedule expectations. However, overall production still increased compared to February. Demand side, downstream battery cell manufacturers saw a significant increase in production schedules compared to February, especially for power battery cells and high-density materials. The LFP production increase is expected to slow down in April.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Zhicheng Zhou 021-51666711

Yujun Liu 021-20707895

Zihan Wang 021-51666914

Yanlin Lyu 021-20707875

Haohan Zhang 021-51666752

Jie Wang 021-51595902

Yang Xu 021-51666760

Bolin Chen 021-51666836

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