Battery Materials Market Intelligence
Market Snapshot: Week of August 21, 2025
A week of divergence: Anode stability masks underlying margin pressures while a major cost shock reverberates through the electrolyte supply chain.
Anode Market
Prices held steady amid intense competition, offering no cost relief but also no new pressure to producers.
Cathode Market
Broad price increases were driven by firming raw material costs across all major chemistries.
Electrolyte Chain
A major cost shock occurred as LiPF₆ and its precursor LiF saw prices surge dramatically.
Anode Chain: A Stable Facade
The anode sector appears calm, but weak feedstock prices for GPC and needle coke are creating a complex margin environment for producers facing fierce competition.
Anode Material Prices (Avg. USD/t)
Indicative Anode Cost Stack
Cathode & Lithium: Cost-Driven Momentum
Unlike anodes, the cathode market saw widespread price increases. This was fueled by firm lithium prices, with LiOH showing particular strength due to high-nickel NCM demand.
Cathode Price WoW Change (Avg. USD/t)
LFP Exports by Destination (July 2025)
Electrolyte Chain: The Cost Shock Epicenter
This week's main event was a massive price surge in the electrolyte value chain. The price of Lithium Fluoride (LiF) "rocketed," pulling up the cost of LiPF₆ and signaling potential headwinds for cell manufacturers.
LiF Price (Avg. USD/t)
$20,534
"Rocketed" due to strong demand and precursor costs
LiPF₆ Price (Avg. USD/t)
$7,569
Ramped up, driven directly by the LiF surge
Electrolyte Chain Prices (Avg. USD/t, Log Scale)
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