【SMM Analysis: LFP Market Situation from April 21 to April 25】SMM reported on April 24 that LFP prices showed an overall downward trend this week, decreasing by approximately 400 yuan/mt, mainly due to a significant drop in lithium carbonate prices this week, which fell by about 1,550 yuan/mt. On the supply side, material manufacturers maintained stable production this week, with overall production in April increasing by about 1%-2% compared to March. On the demand side, downstream battery cell manufacturers saw relatively stable demand, with a slight increase compared to March, but the growth was relatively small. In late April, the overall cargo pick-up progress of battery cell manufacturers slowed down, and demand did not show a significant expected increase. In terms of price settlement, material manufacturers and battery cell manufacturers renegotiated an increase in processing fees for Q2 in April, but no actual progress was made. It is expected that there will be a slight increase in overall production in May, and material manufacturers will continue to negotiate settlement prices with battery cell manufacturers.