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across chemical producers, converters, traders, and any midstream or downstream end consumers in China.",{"type":574,"attrs":600,"content":601},{"textAlign":49},[602,608,612],{"text":603,"type":585,"marks":604},"A ",[605,606],{"type":590},{"type":607},"superscript",{"text":609,"type":585,"marks":610},"Cathode Inventory ",[611],{"type":590},{"text":613,"type":585},"tracks changes in the quantity of cathode active material held at midstream and downstream operations in China.",{"type":615,"content":616},"bullet_list",[617,630,640,650,660],{"type":618,"content":619},"list_item",[620],{"type":574,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":585,"marks":625},"Lithium chemical inventory continued to tighten during February, as annual maintenance shutdowns during Chinese New Year constrained supply. Meanwhile, demand remained firm, with consumers turning to traders to source material. This prompted stock drawdowns among traders",[626],{"type":627,"attrs":628},"textStyle",{"color":629},"black",{"type":618,"content":631},[632],{"type":574,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":585,"marks":637},"Most lithium facilities resumed production post-holiday, although earlier maintenance outages and steady downstream purchasing meant restocking was gradual, leaving lithium chemical availability tight",[638],{"type":627,"attrs":639},{"color":629},{"type":618,"content":641},[642],{"type":574,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":585,"marks":647},"Tier 2 and Tier 3 cathode producers implemented typical seasonal production cuts during the holiday period. Meanwhile, Tier 1 manufacturers reduced output less than expected, triggering a divergence in inventory trends",[648],{"type":627,"attrs":649},{"color":629},{"type":618,"content":651},[652],{"type":574,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":585,"marks":657},"Logistical disruptions and maintenance at cell facilities limited cathode offtake. Therefore, larger cathode producers that remained online accumulated stock. As a result, cathode inventory at these manufacturers increased",[658],{"type":627,"attrs":659},{"color":629},{"type":618,"content":661},[662,670,692],{"type":574,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":585,"marks":667},"Elevated cathode prices were resisted by customers, while shutdowns dampened procurement. Nonetheless, expectations of strengthening March demand led larger cell producers to maintain consistent cathode inventory",[668],{"type":627,"attrs":669},{"color":629},{"type":574,"attrs":671,"content":672},{"textAlign":49},[673,678,679,684,686,690],{"type":578,"attrs":674},{"id":675,"alt":572,"src":676,"title":572,"source":572,"copyright":572,"meta_data":677},149544152637223,"https://a.storyblok.com/f/287943243085208/2296x434/d3700be722/2026-02-bottom-table.png",{},{"text":584,"type":585},{"text":680,"type":585,"marks":681},"B, C ",[682,683],{"type":590},{"type":607},{"text":685,"type":585}," The ",{"text":687,"type":585,"marks":688},"Lithium Chemicals Inventory Change Break Down and the Cathode Inventory Change Break Down ",[689],{"type":590},{"text":691,"type":585},"illustrates where inventory sits within the supply chain for lithium chemicals and cathode active material, respectively. Lighter orange denotes lower-than-typical inventory levels, darker orange denotes higher-than-typical inventory levels. An up arrow indicates restocking, a flat arrow indicates a static balance, and a down arrow indicates destocking. The inventory changes at these supply chain steps comprise the overall change in the inventory trackers above.",{"type":574,"attrs":693,"content":694},{"textAlign":49},[695,700],{"type":578,"attrs":696},{"id":697,"alt":572,"src":698,"title":572,"source":572,"copyright":572,"meta_data":699},139690024143776,"https://a.storyblok.com/f/287943243085208/1024x58/a02f892280/inventory-tracking-key_134829519fb5-2.png",{},{"text":584,"type":585},"Lithium chemical inventory continued to tighten during February, as annual maintenance shutdowns during Chinese New Year constrained supply. Meanwhile, demand remained firm, with consumers turning to traders to source material","briefing",[704,706,709],{"slug":705,"name":8},"lithium",{"slug":707,"name":708},"raw-materials","Raw Materials",{"slug":710,"name":711},"critical-minerals","Critical Minerals","private","weekly","Feb 27, 2026","27th February 2026",{"slug":717,"title":718,"cardImage":719,"description":720,"frequency":721},"lithium-inventory-tracker","Lithium Inventory Tracker","https://a.storyblok.com/f/287943243085208/1504x784/f371111ea2/inventory-tracker.png","This Briefing charts and explains the levels of lithium and CAM inventory held in China.","Monthly",[],[],1792688627910]