Benchmark launches new CIF North America and Europe 314Ah LFP cell prices

Benchmark Mineral Intelligence has launched new CIF North America and CIF Europe 314Ah lithium iron phosphate (LFP) cell prices for energy storage applications. The CIF grades assess prices of Chinese LFP cells including the cost of internal transfer, insurance, and freight (CIF).

The announcement comes as global demand for BESS has risen by 51% year-on-year and cell prices have shown signs of upwards movement, following a marked rebound in lithium carbonate costs and tightening supply conditions across the battery materials market.

Chinese domestic production accounted for 98.9% (>1TWh) of global LFP cell supply in 2025, though ex-China supply is evolving.

Business strategies for battery producers around the world are being re-examined to navigate the changing demand picture. With strong BESS demand and continued investment in the sector, producers in North America are retooling nickel cobalt manganese (NCM) EV lines to produce LFP cells for energy storage. Despite this, Benchmark’s analysis reveals a 63GWh North American deficit in 2025 and that both the regional LFP and BESS markets will remain in deficit in the medium-term.

​Europe’s current LFP capacity stands at 15GWh, but projections indicate a sharp increase to 282GWh by 2030. Despite these announcements, many European LFP projects are led by smaller entrants with limited manufacturing experience, increasing the risk of delays and operational setbacks.

In light of the persisting deficit, the BESS industry is forecast to remain dependent on Chinese LFP production until local capacity scales up, with additional hurdles around qualifying the cells and achieving cost competitiveness. By bringing transparent, region-specific pricing to market, this announcement gives procurement and sales teams in the West the visibility and confidence they need to plan, price, and contract more effectively.

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