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 Prices
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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Lithium producers including Ganfeng and Tianqi expect their net profits in 2023 to be much lower than in 2022, with the common reason being a sharp drop in lithium prices.
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The price war for power batteries is intensifying, with the world's two largest battery makers reportedly pushing battery costs down further.
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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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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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