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Battery Materials Market Intelligence

Market Snapshot: Week of September 11, 2025

Divergence emerges between falling downstream prices and rising upstream costs, squeezing producer margins.

Anode Market

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Stable pricing but rising feedstock costs (GPC/CPC up 1.3%) squeeze producer margins. Key watch item for TEA.

Cathode Market

LFP sees 1.7% WoW drop to $4,899/t. LMO prices also soften due to weak demand.

Electrolyte Chain

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Mixed picture: LiPF₆ flat while critical additive FEC saw 6.25% price increase, complicating formulation costs.

Anode Chain: Margin Compression Intensifies

Anode materials hold stable pricing, but rising feedstock costs are squeezing producer margins. GPC and CPC prices increased 1.3% WoW, creating a complex procurement environment.

Anode Material Prices (Avg. USD/t)

Synthetic Anode Cost Stack

Cathode & Lithium: Downward Pressure Persists

Weak downstream demand continues to push down prices for LFP and LMO. NCM 523 shows slight recovery at +0.2%, while lithium hydroxide remains stable.

Cathode Price WoW Change (Avg. USD/t)

LFP Market Trend (USD/t)

Electrolyte Chain: Component Divergence

The electrolyte market presents a mixed picture: LiPF₆ remains stable at $7,742/t while the critical additive FEC jumps 6.25% to $4,786/t, complicating formulation cost stacks.

LiPF₆ Price (Avg. USD/t)

$7,742

Stable at +$3 WoW despite cost variations

FEC Price (Avg. USD/t)

$4,786

Up 6.25% WoW (+$283) complicating costs

Electrolyte Chain Prices (Avg. USD/t, Log Scale)

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