In June 2025, LMO production saw a slight MoM decline. Supply side, the production plans of leading LMO enterprises remained stable, with relatively small fluctuations in overall production. However, some small and medium-sized enterprises, lacking cost advantages, faced fierce market competition. Spot prices remained low, and profit margins were limited, leading most enterprises to choose production cuts or even shut down operations. Additionally, as downstream battery cell manufacturers primarily purchased based on rigid demand and were unwilling to stock up in large quantities, market demand remained weak, failing to stimulate the production enthusiasm of LMO enterprises, resulting in a significant decline in total market supply. It is expected that by July 2025, the activity of the downstream market may increase, with the number of inquiries potentially rising, thereby driving a MoM increase in the supply of LMO enterprises.