NCM Materials: Pulled by increasing lithium carbonate costs, domestic NCM materials showed a growth tendency this week. ICCSINO learnt that actual transaction price of NCM materials increased by a range of 1,000-2,000 yuan/ton recently. However, the market is not expecting a large price increase of NCM Materials for 2 reasons. On the one side, the demands from the consumer electronics were weakening. On the other side, as the year-end approaches, some NCM material manufacturers were eager to collect cash and hence were willing to accept lower price but with assured payments. The price of NCM precursors remained stable recently due to the stable cost of upstream Lithium salts.
LFP Materials: LFP market was heading for improvements recently. The products from first-tier LFP manufacturers were in short supply, so some manufacturers have become more selective on customers. Since the cost of raw material lithium carbonate kept increasing, coupled with limited LFP supply, some manufacturers planned to raise LFP materials price again and passed down the cost pressure to users. ICCSINO estimates that the price increase would be around 1000 yuan/ton.
Lithium Carbonate: Facing both strong demands and limited supply, the prices of both industrial-grade and battery-grade lithium carbonate increased. As the year-end approaches, lithium carbonate market would continue to face tight supply. Cathode manufacturers had strong willingness to stock up, and therefore price inquiries from cathode manufacturers have increased significantly. Under this situation, Lithium carbonate manufacturers intended to raise the selling price further. The market has been quite active.
LMO: Entering December, due to the increasing cost of upstream materials such as lithium carbonate and manganese dioxide, most LMO manufacturers raised price quotes by 500-1000 yuan/ton. But the downstream customers had different acceptance attitudes. As the year-end approaches, demands from downstream market weakened, but some LMO manufacturers were rushing to meet their annual sales target and hence willing to keep the price level. In December, most manufacturers want to collect cash, so the shipment volumes dropped compared with previous periods.
Anode Materials:
The Anode Materials continued to be hot. The order numbers of leading manufacturers were eye-catching, and the product prices were stable. The raw material prices increased slightly, adding to the bargaining power of anode manufacturers in price negotiation of next year. Leading manufacturers operating under full capacity, and the procurement activities of raw materials were active. ICCSINO expects the anode output quantity to remain high.
Separator:
The domestic separator supply remained tight this week. The price increased for some small contracts, but the price of long-term contracts continued to be stable. Currently, most separator manufacturers were negotiating next year's order price. ICCSINO learnt that CATL, LG Energy Solution, BYD significantly increased their procurement quantity of next year. So leading separator manufacturers accelerated adding new production line. ICCSINO estimates that there would be a small increase in the separator supply.
Electrolyte:
The performance of the electrolyte market was average this week. Leading manufacturers had good performance, supported by strong demands from NEV market. Solvent market had small downward adjustment this week. The current mainstream price of DMC was at 14,000-16,000 yuan/ton. Since December, low-cost lithium hexafluorophosphate has completely withdrawn from the market. The mainstream market price of lithium hexafluorophosphate was at 105,000-110,000 yuan/ton. Overall, the electrolyte market output this month has little change from the previous month.
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