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| Author | InfoLink |
| Updated | July 29, 2026 |
Lithium ore and lithium salt
Over the past week, prices for spodumene concentrate and battery-grade lithium carbonate remain volatile overall:
- Battery-grade lithium carbonate (spot)
Price range: RMB 140,000–148,000/MT
Average price: RMB 144,000/MT
Up 2.1% WoW - Spodumene concentrate (SC6, CIF)
Price range: USD 2,010–2,100/MT
Average price: USD 2,055/MT
Up 0.2% WoW
This week, prices remain caught in a tug-of-war between expectations of additional supply and resilient demand. On the one hand, following the restart of the Jianxiawo lithium mine, the market continues to assess the pace of its production ramp-up and its actual contribution to supply. On the other hand, after lithium carbonate prices retreat to around RMB 140,000/MT, downstream buyers show greater willingness to lock in prices and undertake near-term restocking, indicating that transactions at lower price levels continue to find support. Overall, lithium salt prices have not established a clear direction this week, while firm physical demand continues to support prices.
On the supply side, disruptions at mines remain the key variable influencing price expectations. The Jianxiawo lithium mine has entered the production-restart phase, but the actual pace of the ramp-up still requires monitoring; market participants have become more cautious than before in estimating its supply contribution.
Outside China, Australian lithium ore shipments declined MoM in July, while some lithium mining projects in Brazil suspended operations again due to environmental issues. In parts of Argentina, heavy snowfall has also disrupted lithium salt shipments. In China, although lithium ore inventories have seen some temporary replenishment, spot ore availability remains limited. Margins on processing externally sourced ore remain thin, while lithium salt processing fees hold at around RMB 17,500–18,500/MT.
On the lithium salt side, some lithium salt producers and brine operators plan maintenance-related output cuts in August. With arrivals of Zimbabwean material remaining uneven, near-term supply conditions have yet to loosen materially.
On the demand side, underlying support remains intact. Midstream production schedules have stayed elevated recently, while market expectations are growing that leading cell manufacturers will raise their August–September production plans. Demand from EV, energy storage, and consumer battery applications continues to provide some support.
When futures prices retreat to around RMB 140,000/MT, downstream buyers are relatively active in price fixing, while speculative restocking also picks up. Midstream inventories remain relatively low, and the spot basis strengthens.
Overall, lithium carbonate prices are likely to remain volatile in the near term. Financial investors continue to trade on expectations of longer-term oversupply, but spot inventory drawdowns, maintenance at lithium salt producers, and peak-season demand in Q4 should curb further downside. Should August–September demand exceed expectations, the market may again price in support from the Q4 peak season. However, the extent of any rebound will still depend on how disruptions in Jiangxi, Zimbabwe, and other mining regions outside China materialize.
Energy storage cells in China
Over the past week, transaction prices for China’s LFP energy storage cells have softened, with prices as follows:
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100 Ah: RMB 0.405–0.480/Wh, averaging RMB 0.443/Wh (down 2.2% WoW)
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280 Ah: RMB 0.330–0.390/Wh, averaging RMB 0.360/Wh (down 2.7% WoW)
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314 Ah: RMB 0.330–0.390/Wh, averaging RMB 0.360/Wh (down 2.7% WoW)
As lithium carbonate prices retreat to a relatively stable range and cost pressure on cell manufacturers eases, some manufacturers are offering price concessions under long-term agreements and to major customers to retain key customers and longer-term orders, pushing mainstream transaction prices lower than previous levels.
Overall, the recent decline in cell prices is not broad-based. Rather, prices for certain specifications and orders have decrease by an average of around RMB 0.01/Wh.
In terms of the order mix, cell demand remains supported, but manufacturers increasingly prioritize market share and delivery certainty. Utility-scale storage projects continue to center on 314 Ah cells. Products rated at 500 Ah, 600 Ah, and above continue to undergo validation and adoption, but their ability to replace mainstream specifications remains limited in the near term. Demand for 100 Ah cells was previously well supported by residential storage and non-China behind-the-meter (BTM) applications. However, inventory pressure has begun to emerge in some distribution channels, weakening price resilience from previous levels. Supply of 280 Ah and 314 Ah cells is more ample, giving customers stronger bargaining power. Manufacturers are therefore more inclined to lock in orders at low prices to secure Q4 production schedules and maintain utilization rates.
Cell transaction prices are expected to remain broadly stable in the near term, with modest fluctuations in individual orders depending on customer mix, procurement volume, and delivery schedules. The basis for meaningful price increases remains insufficient, but room for another sharp decline is also relatively limited.
Energy storage system (ESS) in China
For the past week, transaction prices for electrochemical ESS in China have softened slightly overall. Prices are as follows:
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DC-side liquid-cooled containerized ESS (2h): RMB 0.45–0.53/Wh, averaging RMB 0.49/Wh (down 1% WoW)
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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 0.52-0.63/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)
Average prices for 2-hour DC-side systems edge lower, mainly reflecting downward shifts in price quotes for some projects following the decline in cell costs. AC-side system prices, however, remain broadly stable, constrained by the costs of PCS, step-up transformers, EMS, thermal management, fire protection, grid connection and commissioning, as well as warranty obligations.
Competition in the system segment remains ample, but project quotes increasingly depend on the scope of supply, grid-connection requirements, and contractual performance obligations rather than changes in cell costs alone.
Recent standalone ESS equipment tenders continue to reflect low-price competition. In late July, the winning bid for the 80 MW/320 MWh electrochemical energy storage equipment package supporting Huaneng’s 400 MW LONGi Yongning PV project in Ningxia was announced at an equivalent price of around RMB 0.497/Wh, below the roughly RMB 0.56–0.59/Wh quoted by some other bidders. As the project covers a 4-hour energy storage equipment package, it provides an important reference point for recent system equipment prices.
For 2-hour systems, shortlisted bids for the 900 MW/1.8 GWh ESS at the Gansu Tengger Desert base large-scale base in mid-July averaged around RMB 0.53/Wh. Overall, both 2-hour and 4-hour system equipment remain in low-price competitive ranges, although projects differ in cell specifications, AC/DC scope boundaries, warranty requirements, and delivery schedules.
On July 28 local time, the U.S. Federal Communications Commission (FCC) formally issued new rules prohibiting the import of new connected power inverters from China that have not yet received equipment authorization. The rules also restrict humanoid and quadruped robots from entering the U.S. market and took effect immediately upon issuance.
Citing alleged supply-chain security concerns and cybersecurity risks to critical infrastructure, the U.S. is tightening market-access controls on Chinese AI and energy equipment. The FCC also retains the authority to revoke approvals previously granted to models already on the market, extending the restrictive approach previously applied to drones, communications equipment, and other product categories.
Although the rules are unlikely to directly affect exports of Chinese-made energy storage cells in the near term, they will significantly raise certification barriers and localization requirements for inverters and integrated system products entering the U.S. market. They may also increase system costs and extend delivery timelines for future projects.