SHANGHAI, Feb 10 (SMM) - China's anode material output stood at 103,057 mt in January, down 14% MoM and up 37% YoY.
In terms of demand, the end consumption and NEV market was sluggish due to the removal of NEV subsidies and the closure of battery cell factories during the Chinese New Year (CNY) holiday. Although the demand for energy storage has been growing fast this year, most energy storage battery producers also cut their production due to holiday break. Therefore, the overall demand for anode materials shrank.
On the supply side, most of the small and medium-sized anode factories halted production due to weak demand and for the holiday. The top-tier manufacturers mainly reduced their capacity to produce according to orders on hand. In general, the overall market supply fell to a low level in January.
In February, the demand recovery was relatively slow, but the production resumption of energy storage enterprises was smooth, so the large anode plants have received sufficient orders. At the same time, the supply is also on the rise with as manufacturers are back to work.
China's anode material output in February is forecast to be 118,527 mt, up 15% MoM and 63% YoY.
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