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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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Battery-grade lithium carbonate prices are still sinking, but lithium suppliers have begun to cut production and the market is looking forward to the September-October demand season, TrendForce said.
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CATL asked cathode material suppliers in early July to offer a 5 percent to 10 percent discount in settling lithium carbonate prices, according to local media.
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CATL asked cathode material suppliers in early July to offer a 5 percent to 10 percent discount in settling lithium carbonate prices, according to local media.
The post CATL reportedly asks suppliers to offer up to 10% discount on lithium carbonate prices appeared first on CnEVPost.
For more articles, please visit CnEVPost.
