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| Author | InfoLink |
| Updated | July 01, 2026 |
Lithium ore and lithium salt
Over the past week, prices for spodumene concentrate and battery-grade lithium carbonate trended lower before stabilizing.
- Battery-grade lithium carbonate (spot)
Price range: RMB 151,000–161,000/MT
Average price: RMB 156,000/MT
Up 0.6% WoW - Spodumene concentrate (SC6, CIF)
Price range: USD 2,200–2,300/MT
Average price: USD 2,250/MT
Flat WoW
During the week, the market briefly interpreted progress on the Jianxiawo project as a sign that near-end supply was about to resume, weighing on futures prices. Subsequent information, however, indicated that the relevant procedures did not equate to a short-term resumption of lithium mine production, and market expectations for an immediate release of new resources moderated somewhat. Transactions at low levels improved accordingly, and the average spot prices rebounded to some extent.
In terms of physical supply, the recovery of mining operations in Jiangxi remains constrained by multiple factors, including approvals, construction, and production preparations. The actual pace is therefore likely to be slower than shifts in market sentiment. Some mines are undergoing license renewals or moving toward production resumption, and companies’ existing ore inventories can support production for a certain period. However, this has yet to translate into clear pressure from new supply.
For resources outside China, lithium concentrate and lithium sulfate from Zimbabwe have been shipped gradually, but arrivals remain relatively slow. Coupled with tight feedstock inventories at some lithium salt producers, the lithium salt segment may see localized output reductions in July.
On the demand side, activity remains relatively strong. LFP material capacity continues to ramp up, production schedules for energy storage cells remain high. In the power battery segment, restocking demand remains supported by improving exports and the approach of the traditional peak season. After futures prices fell back to around RMB 150,000/MT, downstream procurement interest improved markedly, though transactions were still mainly driven by rigid restocking demand and phased inventory building.
Overall, this round of volatility appears to be driven more by market trading around expectations of production resumption than by a directional reversal in supply-demand fundamentals. Warehouse warrants and market inventories continue to cap price rebounds, but uncertainty over a near-term production restart at Jianxiawo, localized output reductions in the lithium salt segment, and resilient midstream production schedules have also limited further rapid downside in lithium prices.
On the demand side, acceptance of high-priced raw materials remains limited. Once prices return to relatively elevated levels, the pace of procurement is likely to slow markedly. In the short term, lithium carbonate prices are expected to continue fluctuating around supply expectations and the actual pace of inventory drawdown. Prices near RMB 150,000/MT should provide some support, while the market does not yet have the conditions for a sustained one-way move.
Energy storage cells in China
Over the past week, transaction prices for China’s LFP energy storage cells have held steady overall, with quotes for major formats showing no significant changes. Prices are as follows:
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100 Ah: RMB 0.425–0.485/Wh, averaging RMB 0.455/Wh (flat)
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280 Ah: RMB 0.345–0.410/Wh, averaging RMB 0.378/Wh (flat)
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314 Ah: RMB 0.345–0.405/Wh, averaging RMB 0.375/Wh (flat)
After lithium carbonate prices fell back to the RMB 150,000–160,000/MT range, customers’ concerns over procurement costs eased somewhat, with order discussions and restocking activity improving from earlier levels. However, conditions have yet to form for a rise in mainstream cell prices. The 100 Ah product segment remains supported by residential and non-China user-side demand, showing relatively resilient prices, while supply of 280 Ah and 314 Ah products is more sufficient and transactions remain stable.
Declines in raw material prices will not immediately translate into adjustments in transaction prices for cells. Orders currently under execution still account for a relatively high share, while cell makers differ in raw material procurement costs, inventory levels, and delivery cycles. As a result, price transmission will take time.
If lithium carbonate prices subsequently stabilize at lower levels, 280 Ah and 314 Ah products, where competition is more intense in newly signed orders, may see limited downward adjustments accordingly. However, manufacturers still need to balance full-year shipment targets with basic profitability, which is expected to limit the scope of price reductions.
In terms of product transition, 314 Ah remains the main specification for utility-scale storage deliveries, while products above 500 Ah are still undergoing validation and market introduction and have yet to create a clear short-term impact on the supply-demand balance of existing products. Therefore, cell prices are expected to remain largely stable in the near term, with differences mainly reflected in stronger pressure resistance among small-capacity products and greater sensitivity to order competition among medium- and large-capacity products.
Energy storage system (ESS) in China
Transaction prices for electrochemical ESS in China have remained stable for the past week. Prices are as follows:
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DC-side liquid-cooled containerized ESS (2h): RMB 0.46–0.53/Wh, averaging RMB 0.50/Wh (flat)
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AC-side liquid-cooled containerized ESS (1h): RMB 0.81-0.87/Wh, averaging RMB 0.84/Wh (flat)
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AC-side liquid-cooled containerized ESS (2h): RMB 0.52-0.64/Wh, averaging RMB 0.58/Wh (flat)
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AC-side liquid-cooled containerized ESS (4h): RMB 0.50-0.55/Wh, averaging RMB 0.53/Wh (flat)
Volatility in lithium salt prices has yet to change transaction dynamics in the system segment. In addition to battery cells, system integration prices also need to cover costs for PCS, thermal management, fire protection, control systems, delivery, and warranties. With limited room for integrators to further compress margins, a short-term decline in raw material prices is not enough to directly drive system transaction prices lower.
Recent procurement for utility-scale storage projects continues to signal solid demand. In late June, China National Petroleum Corporation (CNPC) launched its annual centralized procurement for LFP ESS, with a procurement scale of nearly 1 GWh. The tender mainly focuses on 4-hour long-duration storage systems and covers both grid-forming and grid-following applications.
The tender sets relatively high requirements for core equipment supply, project track records, and delivery capabilities. Although it has yet to produce final awarded equipment prices that can be used for direct benchmarking, the procurement scope and technical thresholds suggest that long-duration storage configuration, grid-forming support capability, and system-level delivery capability have become key screening criteria for utility-scale projects.
For system integrators, future competition will increasingly center on core component configuration, system safety design, and large-scale delivery capabilities, rather than simply on equipment unit prices.
In addition, policy risks in markets outside China still require close monitoring. On June 30, market reports suggested that the U.S. was studying import restrictions on new types of foreign-made inverters. The relevant rules remain in the drafting stage, with their scope of application, implementation timeline, and exemption arrangements still unclear.
Inverters are key equipment connecting PV and ESS to the power grid. If the restrictions are expanded, they could increase certification, localized supply, and service costs for Chinese companies entering the U.S. market, while also disrupting equipment procurement schedules for new projects. However, given the U.S. market’s high reliance on imported equipment, any policy actually introduced may still include a relatively long transition period or retain some room for exemptions.
In the short term, the actual impact of this development on China’s energy storage system exports remains to be seen. Companies should pay closer attention to early preparation in product communication-security design, overseas certification, and localized delivery capabilities.