[SMM Analysis] Weekly Summary of LFP Market

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SMM reported on July 3 that this week, the price of LFP continued to rise from last week, with an overall increase of approximately 210 yuan/mt. The price of lithium carbonate also continued to rise this week, with a cumulative increase of about 950 yuan/mt. On the market side, the overall production of material factories remained stable this week, with top-tier enterprises maintaining a steady production pace with a slight increase. Downstream demand is expected to see some growth this month. However, market demand has begun to diverge. Orders in the NEV market are expected to start decreasing this month, while ESS demand is performing well, driving overall demand growth. Recently, a battery cell manufacturer has initiated tenders, and the overall tendering process has been relatively smooth. Based on the information currently available, it is expected that price wars will intensify in H2. Overall, the recent LFP market has mainly focused on tenders as the main topic of discussion, with moderate demand and relatively stable market conditions.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Zhou Zhicheng 021-51666711

Wang Zihan 021-51666914

Lv Yanlin 021-20707875

Zhang Haohan 021-51666752

Wang Jie 021-51595902

Xu Yang 021-51666760

Chen Bolin 021-51666836