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| Author | Amy Zhang |
| Updated | April 07, 2025 |
Lithium price
Lithium carbonate prices kept falling and SC6 prices followed suit in March.
Spot prices for battery-grade lithium carbonate stood at RMB 73,000-75,000/MT as of March 31, averaging RMB 74,000/MT at the month’s end, down 2% MoM. CIF prices for Chinese lithium spodumene concentrate (SC6) came in at USD 820-848/MT, averaging USD 834/MT, down 4.7% MoM.
Battery-grade lithium carbonate prices extended February’s decline into March. SC6 prices, which held firm earlier this year, also began to drop. The issue of oversupply remains pronounced, as lithium salt plants have resumed operations, new capacity keeps increasing, and imports from Chile added more supply in March.
Many downstream buyers had stocked up before the Lunar New Year, so they mainly used existing inventory or bought only as needed. Demand stayed weak and below expectations. Supply of battery-grade lithium carbonate outpaced demand, causing inventory to build up across the market and more severe oversupply. Falling SC6 prices also reduced cost support for battery-grade lithium carbonate, driving prices further down.
As the weather warms, brine pool lithium production will increase, keeping supply high in April. SC6 prices may keep falling. If demand stays weak and supply does not drop, battery-grade lithium carbonate prices will likely keep falling in April.
Energy-storage cell price
Average prices for LFP cells in China slightly increased in March.
Prices for LFP cells in China slightly rebounded in March. As of March 31, the after-tax price range for 280Ah LFP cells was RMB 0.24-0.35/Wh, with an average price of RMB 0.295/Wh, up 1.7% MoM. The prices for 314Ah LFP cells stayed the same at RMB 0.24-0.35/Wh, with an average price of RMB 0.295/Wh. The after-tax price range for 100Ah LFP cells was RMB 0.31-0.37/Wh, with an average price of RMB 0.340/Wh, up 1.5% MoM.
In March, LFP cell prices rose slightly. The highest price went up a bit, the lowest stayed the same, and there was a big gap between leading and Tier-2, 3 manufacturers.
In March, leading producers maintained sufficient orders globally by locking major clients. With tight spot supply, they slightly raised LFP cell prices. Inventory dropped a lot, though some smaller makers still cleared stock with low prices.
Even though battery-grade lithium carbonate prices fell, prices of other key materials like graphite and copper foil went up, slightly raising costs and supporting cell prices.
With larger production, the cost of 314Ah LFP cell dropped significantly. Some companies switched main production to 314Ah cells. In 1Q25, many utility-scale storage projects in China required cells with a minimum capacity of 314Ah. System integrators in C&I storage are also rolling out products using 314Ah cells. After getting certifications in non-China markets, 314Ah cells will be widely exported and become mainstream in 2025.