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LFP cathode prices more than halve in a year as cell makers flex power","chinese-lfp-cathode-prices-more-than-halve-in-a-year-as-cell-makers-flex-power","article/chinese-lfp-cathode-prices-more-than-halve-in-a-year-as-cell-makers-flex-power",{"_uid":557,"date":558,"tags":559,"editor":568,"content":578,"excerpt":693,"featured":51,"reporter":694,"_editable":698,"component":699,"seo_title":553,"categories":700,"visibility":711,"author_company":49,"featured_image":712,"seo_description":693,"author_full_name":49,"author_job_title":49,"formattedDate":716,"formattedArticleDate":717},"02a25ded-8a42-48ca-a1a1-65f2f031a231","2024-07-03 00:00",[560,563,565],{"slug":561,"name":562},"cathode-prices","Cathode prices",{"slug":564,"name":521},"lfp",{"slug":566,"name":567},"lithium-prices","Lithium prices",[569],{"slug":570,"name":571,"content":572},"matthew-bird","Matthew Bird",{"job_title":573,"image":574,"bio":576,"linkedin":577},"Senior Editor - Supply Chains & Data Visualisation",{"filename":575},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":579,"content":580},"doc",[581,588,603,608,621,626,639,648,655,660,665,670,675,680],{"type":582,"attrs":583,"content":584},"paragraph",{"textAlign":49},[585],{"text":586,"type":587},"Prices for Chinese lithium iron phosphate (LFP) cathode material more than halved in the past year amid weak raw material prices, a supply glut and intensive competition among cathode producers.","text",{"type":582,"attrs":589,"content":590},{"textAlign":49},[591,593,601],{"text":592,"type":587},"LFP cathode prices have declined 52% year-on-year to RMB 42,000 ($5,796) for the period ended  mid June, according to the ",{"text":594,"type":587,"marks":595},"Benchmark Cathode Price Assessment",[596],{"type":597,"attrs":598},"link",{"href":599,"uuid":49,"anchor":49,"target":49,"linktype":600},"https://www.benchmarkminerals.com/price-assessments/cathode/reports/","url",{"text":602,"type":587},". Aside from a rebound in March, when lithium carbonate prices rose about 15%, LFP cathode prices have fallen every month since August.",{"type":582,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":587},"“The majority of the price decreases have stemmed from falling lithium carbonate prices in China,” said Evan Hartley, analyst at Benchmark. “But the cell producers have taken advantage of this and suppressed prices even further, leveraging the increased competition within the LFP space.” ",{"type":582,"attrs":609,"content":610},{"textAlign":49},[611,613,619],{"text":612,"type":587},"Chinese lithium carbonate prices have declined 70.5% year-on-year to RMB 92,000 ($12,700) per tonne for the period ended mid June, according to the ",{"text":614,"type":587,"marks":615},"Benchmark Lithium Price Assessment",[616],{"type":597,"attrs":617},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":600},"https://www.benchmarkminerals.com/price-assessments/lithium/chart/",{"text":620,"type":587},".  ",{"type":582,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":587},"While prices have declined for all battery cathode materials, LFP cathodes have fallen the most as Tier 1 and 2 cell makers have been lowering battery prices since early last year to gain market share and undercut competitors.",{"type":582,"attrs":627,"content":628},{"textAlign":49},[629,631,637],{"text":630,"type":587},"The ",{"text":632,"type":587,"marks":633},"Benchmark Cathode Price Index",[634],{"type":597,"attrs":635},{"href":636,"uuid":49,"anchor":49,"target":49,"linktype":600},"https://www.benchmarkminerals.com/price-assessments/cathode/portal/?tab=chart",{"text":638,"type":587},", which tracks prices of cathode relative to demand, fell 48.6% since this time last year, reaching its lowest point since January 2021. ",{"type":582,"attrs":640,"content":641},{"textAlign":49},[642],{"type":643,"attrs":644},"image",{"id":49,"alt":645,"src":646,"title":49,"source":49,"copyright":49,"meta_data":647},"","https://a.storyblok.com/f/287943243085208/df3be8392e/bm-lfp-cathode-price-chart.png",{},{"type":649,"attrs":650,"content":652},"heading",{"level":651,"textAlign":49},4,[653],{"text":654,"type":587},"Overcapacity bites",{"type":582,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":587},"A consistent growth in the Chinese cathode market has seen production capacity far outpace demand, with many producers lowering utilisation rates. ",{"type":582,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":587},"“Demand is increasing for LFP, particularly for overseas ESS markets, but capacity expansions continue to outstrip demand, so increasing demand has done little to alleviate overcapacity,” said Hartley.",{"type":582,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":587},"According to the analyst, the continuous addition of cathode making capacity in the past few years has helped Tier 1 cell makers to create a price war between midstream companies. ",{"type":582,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":587},"“As there are fewer large cell companies, there is a limited pool of customers for cathode producers relative to the amount of competitors out there,” Hartley added.",{"type":582,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":587},"A few Chinese cathode investments or projects have been delayed or cancelled due to overcapacity and low profitability.",{"type":582,"attrs":681,"content":682},{"textAlign":49},[683,685,691],{"text":684,"type":587},"The cathode market is forecast to enter an era of deficit from 2029 onwards, according to the ",{"text":686,"type":587,"marks":687},"Benchmark Cathode Forecast",[688],{"type":597,"attrs":689},{"href":690,"uuid":49,"anchor":49,"target":49,"linktype":600},"https://www.benchmarkminerals.com/forecasts/cathode/reports/",{"text":692,"type":587},".","Prices for Chinese lithium iron phosphate (LFP) cathode material more than halved in the past year amid weak raw material prices, a supply glut and intensive competition among cathode producers. LFP cathode prices have declined 52% year-on-year to RMB 42,000 ($5,796) for the period ended mid June, according to the Benchmark Cathode Price Assessment. Aside […]",[695],{"slug":570,"name":571,"content":696},{"job_title":573,"image":697,"bio":576,"linkedin":577},{"filename":575},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"02a25ded-8a42-48ca-a1a1-65f2f031a231\", \"id\": \"\"}-->","article",[701,704,706,708],{"slug":702,"name":703},"batteries","Batteries",{"slug":705,"name":300},"cathode",{"slug":707,"name":8},"lithium",{"slug":709,"name":710},"phosphate","Phosphate","private",{"id":49,"alt":645,"name":645,"focus":645,"title":645,"source":645,"filename":713,"copyright":645,"fieldtype":714,"meta_data":715,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/2f1ff980e0/bm-bmiprices1.png","asset",{"alt":645,"title":645,"source":645,"copyright":645},"Jul 03, 2024","3rd July 2024",[],[],1789141519102]