SMM reported on July 10 that the price of lithium iron phosphate (LFP) continued to rise this week, following the upward trend of last week, with an overall price increase of approximately 325 yuan/mt. The price hike was mainly due to the continuous rise in lithium carbonate prices this week, with a cumulative increase of about 1,350 yuan/mt. There were no significant changes in the market this week, with material manufacturers maintaining relatively stable production. Top-tier enterprises maintained a steady production pace, with some even experiencing incremental growth. However, the production pace of small and medium-sized manufacturers slowed down slightly due to order influences. Analyzing downstream demand by segment, power battery orders are expected to start decreasing this month, while energy storage system (ESS) demand is performing well, driving overall demand growth, albeit with limited increments. Recently, a battery cell manufacturer initiated tenders, with the overall tendering process progressing relatively smoothly. Based on the information currently available, it is anticipated that the price war will intensify in the second half of the year (H2). Overall, the recent LFP market has primarily focused on tenders as the main topic of discussion, with moderate demand and relatively stable market conditions.