SHANGHAI, Jun 9(SMM) -
China’s output of LFP stood at 57,806 mt in May, an increase of 23% month on month and 103% year on year.
In the post-pandemic time, terminal demand has gradually recovered. China’s production and sales of LFP finally bottomed out after three consecutive months of decline.
In addition, new production capacity of some large first- and second-tier factories has been put into production and the market supply has increased.
The new production lines in Guizhou Yuneng, Yiwei Defang, Jintang Times and Longbai will be gradually released in the third quarter, and the expansion of LFP supply is still in the fast lane.
On the demand side, as the impact of the epidemic gradually subsides, most car and battery companies in the Yangtze River Delta have resumed normal production, and demand for motive power and energy storage has recovered. The industry will welcome the boom in supply and demand in June. The output of LFP is expected to reach 76,755 mt, an increase of 33% month-on-month and a year-on-year increase of 161%.
