[SMM Analysis] Weekly LFP Price Analysis

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SMM January News: This week, the LFP market price experienced a slight decline, with an overall average decrease of approximately 110 yuan/mt. Lithium carbonate prices showed a rapid downward trend this week, dropping by about 450 yuan/mt. Although processing fees remained relatively unchanged this week, given the strong sentiment to stand firm on quotes from upstream producers, processing fees are expected to rise slightly in the near term. Currently, the market mainly follows the long-term agreement prices from December, with prices remaining relatively stable. Recently, leading battery manufacturers have been negotiating with downstream enterprises regarding the supply of LFP for the coming year. According to market research agency SMM, LFP processing fees are expected to rise slightly overall. In terms of supply, the operating rate in the LFP industry remained relatively high this week. On the demand side, the year-end production schedule of downstream battery cell manufacturers maintained a high level of prosperity, showing significant growth compared to the same period last year.

SMM New Energy Research Team

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Ying Xu 021-51666707

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Ye Yuan 021-51595792

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Yushuo Liang 021-20707892

Jie Wang 021-51595902

Yang Xu 021-51666760