China's LFP production stood at 198,000 tonnes in July, up 1% MoM. Affected by the off-season, battery cell factories maintained a strategy of inventory reduction. LFP smelters experienced fluctuating orders, but overall demand remained relatively stable.
It is likely that China's LFP production will rise 4.9% MoM at 207,800 tonnes in August due to the support from energy storage orders, which will lead to a recovery in downstream demand and increased procurement of LFP.
Written by Cora Ji, jiruyan@mysteel.com