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LFP cathode prices hit 17-month low as producers cut prices due to weak demand","chinese-lfp-cathode-prices-hit-17-month-low-as-producers-cut-prices-due-to-weak-demand","article/chinese-lfp-cathode-prices-hit-17-month-low-as-producers-cut-prices-due-to-weak-demand",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":661,"featured":51,"reporter":662,"_editable":666,"component":667,"seo_title":553,"categories":668,"visibility":682,"author_company":49,"featured_image":683,"seo_description":661,"author_full_name":49,"author_job_title":49,"formattedDate":687,"formattedArticleDate":688},"ec6209fa-525e-4947-a4bb-80aee04b3a82","2023-04-28 00:00",[],[561],{"slug":562,"name":563,"content":564},"didi-bostock","Didi Bostock",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Editor - Energy Transition & Economics",{"filename":567},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":571,"content":572},"doc",[573,580,595,600,605,610,615,620,629,636,641,646,651,656],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577],{"text":578,"type":579},"The price of lithium iron phosphate cathode material in China fell to a 17-month low in mid-April due to falling lithium prices and price cuts from producers who are battling for market share amid a slowdown in demand. ","text",{"type":574,"attrs":581,"content":582},{"textAlign":49},[583,585,593],{"text":584,"type":579},"The price of LFP cathodes in China has fallen 42.1% so far this year, according to Benchmark’s ",{"text":586,"type":579,"marks":587},"Cathode Market Assessment",[588],{"type":589,"attrs":590},"link",{"href":591,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/price-assessments/cathode/","url",{"text":594,"type":579},".   ",{"type":574,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":579},"Many cathode material manufacturers in China invested in new LFP cathode production lines last year, which are now coming online. As a result they are increasingly selling material on the spot market at low prices in order to gain customers and remain competitive.",{"type":574,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":579},"Last year Chinese LFP battery cell production rose by 147% compared to the previous year, but this year demand has been more muted. ",{"type":574,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":579},"Falling raw material feedstock prices and weak downstream demand as cell producers look to clear existing inventories have also helped cause the decline, said Evan Hartley, an analyst at Benchmark.",{"type":574,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":579},"Chinese battery grade lithium carbonate prices have declined 65% since hitting an all-time high in late November last year.",{"type":574,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":579},"The average price of LFP cathode has fallen to RMB 97,000 ($14,027) per tonne by mid-April, according to Benchmark’s Cathode Market Assessment. ",{"type":574,"attrs":621,"content":622},{"textAlign":49},[623],{"type":624,"attrs":625},"image",{"id":49,"alt":626,"src":627,"title":49,"source":49,"copyright":49,"meta_data":628},"","https://a.storyblok.com/f/287943243085208/a5c0072572/bm-chinese-lfp-prices.png",{},{"type":630,"attrs":631,"content":633},"heading",{"level":632,"textAlign":49},4,[634],{"text":635,"type":579},"Cheapest battery chemistry gets even cheaper",{"type":574,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":579},"The price declines make LFP battery cell chemistry even more cost competitive compared with cobalt manganese chemistries (NCM). ",{"type":574,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":579},"High-nickel battery cathode prices have fallen less than LFP in part due to the higher price of lithium hydroxide compared to lithium carbonate. ",{"type":574,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":579},"NCM523 and NCM622 average prices have fallen by 36% and 33% year-to-date to RMB 225,000/tonne ($32,850) and RMB 250,000/tonne ($36,500) respectively.",{"type":574,"attrs":652,"content":653},{"textAlign":49},[654],{"text":655,"type":579},"High-nickel NCM 811 cathode prices have fallen by 25.9% year-to-date, according to Benchmark. ",{"type":574,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":579},"Hartley said, however, that the rate of decline in LFP prices will slow down in the near future as many producers are unable to sustain the subsequent losses.","The price of lithium iron phosphate cathode material in China fell to a 17-month low in mid-April due to falling lithium prices and price cuts from producers who are battling for market share amid a slowdown in demand. The price of LFP cathodes in China has fallen 42.1% so far this year, according to Benchmark’s […]",[663],{"slug":562,"name":563,"content":664},{"job_title":565,"image":665,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"ec6209fa-525e-4947-a4bb-80aee04b3a82\", \"id\": \"\"}-->","article",[669,672,674,677,679],{"slug":670,"name":671},"batteries","Batteries",{"slug":673,"name":299},"cathode",{"slug":675,"name":676},"gigafactories","Battery & Gigafactory",{"slug":678,"name":8},"lithium",{"slug":680,"name":681},"phosphate","Phosphate","private",{"id":49,"alt":626,"name":626,"focus":626,"title":626,"source":626,"filename":684,"copyright":626,"fieldtype":685,"meta_data":686,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/03e4f2c4a3/bm-lfp-batteries.jpg","asset",{"alt":626,"title":626,"source":626,"copyright":626},"Apr 28, 2023","28th April 2023",[],[],1792747644610]