A rumor -- later confirmed -- that CATL had suspended lithium production in Jiangxi sent shares of major lithium producers soaring.
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Category: Lithium Carbonate
Demand for power batteries in China was steady overall in July, but battery material costs continued to fall, resulting in a slight downward trend in battery cell prices, TrendForce said.
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TrendForce expects battery cell prices to continue to face downward pressure at the beginning of the third quarter, with hopes for price stabilization resting on restocking demand under the peak season at the end of the third quarter.
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BYD has held discussions with Sigma Lithium about a possible supply agreement, joint venture or acquisition, an executive at the NEV maker said, according to the Financial Times.
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As demand in the power and energy storage battery markets cools, cell makers have adjusted their capacity utilization rates downward to reduce inventory.
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Lithium carbonate prices are expected to still have room to fall, with the supply-demand balance point expected to occur by the end of 2024 or 2025, an expert said.
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China's lithium battery industry's overcapacity will continue into 2024, and battery prices will still decline next year, TrendForce said.
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The average price of battery-grade lithium carbonate in China is falling close to RMB 150,000 per ton, about half of what it was at the end of June, as supply-demand imbalances continue.
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Nio CEO William Li told CnEVPost last month that every RMB 50,000 drop in the price of lithium carbonate would result in roughly a 1.5 percent improvement in gross margin for the company.
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The price of battery-grade lithium carbonate fell below RMB 200,000 per ton for the first time in four months, as industry players' expectations of supply-demand balance changes.
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