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| Author | InfoLink |
| Updated | August 19, 2026 |
Lithium ore and lithium salt
Over the past week, prices for spodumene concentrate and battery-grade lithium carbonate have rebounded slightly. Details are as follows:
- Battery-grade lithium carbonate (spot)
Price range: RMB 147,000–151,000/MT
Average price: RMB 149,000/MT
Up 5.3% WoW - Spodumene concentrate (SC6, CIF)
Price range: USD 2,050–2,150/MT
Average price: USD 2,100/MT
Up 2.9%WoW
Lithium salt prices have rebounded this week, supported by tight spot availability, a strengthening basis, and purchases to meet immediate downstream needs. Despite the rise in futures prices, buying has remained largely need-based, with little willingness to follow prices higher. The recovery appears driven by near-term supply-demand tightness and stronger basis rather than a broad-based demand improvement.
On the supply side, the resumption of operations at the Jianxiawo lithium mine continues to lag earlier optimistic expectations. In mid-August, the mining project’s environmental assessment entered the pre-acceptance stage; however, additional public disclosure and review are required prior to formal approval. Supporting beneficiation and tailings storage facilities must also amend their environmental assessments to reflect the change in mineral type, so near-term incremental supply is likely to remain modest. Outside China, Zimbabwean shipment arrivals may offer a modest supply increase as some producers gradually resume operations. However, a MoM decline in Chilean lithium sulfate shipments to China leave the pace of supply recovery uncertain. On the demand side, midstream production plans remain high, while peak-season shipments of EV and energy storage cells continue to support lithium carbonate demand. Inventory data across multiple measures also point to continued destocking in the lithium salt segment.
Overall, near-term lithium carbonate fundamentals remain firm, with prices expected to remain range-bound. Upside potential will depend on the persistence of supply disruptions in Jiangxi, Zimbabwe, and South America. Over the medium term, lithium carbonate prices are expected to remain caught in the contradiction between firm fundamentals and subdued market expectations. Peak-season production schedule and destocking in August–September provide support for the price floor. However, with downstream buyers already well stocked, their willingness to lock in prices may decline if prices continue to rise. Meanwhile, concerns over weaker energy storage demand, cell destocking, and potential supply additions next year may limit further gains. Battery-grade lithium carbonate prices are expected to remain firm but volatile in the near term. While prices could rise if the basis strengthens or mining disruptions intensify, conditions for a sustained uptrend remain limited.
Energy storage cells in China
Over the past week, transaction prices for China’s LFP energy storage cells have remained flat, with prices as follows:
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100 Ah: RMB 0.400–0.480/Wh, averaging RMB 0.440/Wh (flat WoW)
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280 Ah: RMB 0.330–0.390/Wh, averaging RMB 0.360/Wh (flat WoW)
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314 Ah: RMB 0.330–0.390/Wh, averaging RMB 0.360/Wh (flat WoW)
The rebound in lithium carbonate prices has increased cost pressure on cell manufacturers. However, suppliers continue to prioritize order fulfillment and customer relationships, with mainstream transaction prices remaining stable. Prices for 100 Ah cells remain under pressure amid inventory pressure tied to the longer-term outlook for the residential storage market, while prices for mainstream 280 Ah and 314 Ah utility-scale storage cells have remained stable at low levels.
From a cost perspective, recent strength in copper and other non-ferrous metal prices has kept the costs of auxiliary cell materials and conductive components elevated, further reducing the scope for cell price declines. However, the longer-term cell supply outlook remains ample. Major customers continue to retain some bargaining power. Manufacturers are more inclined to lock in production schedules through long-term agreements and forward orders rather than actively pushing for higher prices. Utility-scale energy storage projects continue to rely on 314 Ah cells. Although 500 Ah and higher-capacity cells are continue to see adoption, they have not yet altered the competitive landscape of mainstream formats. Energy storage cell prices are expected to remain broadly stable in the near term. While rising raw material costs may support a price floor, capacity competition and price pressure from customers limit the potential for meaningful price increases of mainstream formats.
Energy storage system (ESS) in China
For the past week, transaction prices for electrochemical ESS in China have remained stable. 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 (flat 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)
ESS prices have not adjusted notably in response to short-term fluctuations in cell costs. This is mainly because system price quotes depend not only on cells but also on PCS, transformers, EMS, BMS, thermal management, fire protection, grid-connection commissioning, and warranty and delivery obligations. With ESS prices already at low levels, system integrators have relatively little room for further concessions. Competition will increasingly center on balancing cell supply, core component configurations, system safety design, grid-connection capabilities, and delivery scope, rather than simply lowering system prices in step with cell prices.
Recent candidate results from Energy China’s 2026 centralized procurement of LFP ESS indicate continued low-price competition in the system integration segment. The tender, totaling approximately 30 GWh, covers 1C, 0.5C, and 0.25C systems as well as LFP cells across multiple bid packages. Shortlisted bidders include cell manufacturers, PCS suppliers, traditional electrical equipment firms, and system integrators. Bid prices are mainly concentrated at RMB 0.53–0.60/Wh for 2-hour systems and RMB 0.49–0.55/Wh for 4-hour systems. Compared with standalone projects, annual framework tenders more clearly reflect competition among leading companies for annual order share, capacity utilization, and customer lock-in, leading to more intense price competition. However, price is not the only criterion. System packages require in-house R&D or manufacturing capabilities for key components, including cells, PACK, PCS, EMS, and BMS, while core equipment must obtain third-party certification or type-test reports. For system integrators, competition is increasingly shifting from equipment prices to comprehensive system solution capabilities, including stable cell sourcing, PCS–EMS coordination, BMS safety management, integration of liquid cooling and fire protection systems, grid-connection compatibility, scaled delivery, and long-term warranty services. Overall, ESS prices remain in a low-price competitive range. However, leading companies with strong supply chain integration, core component coordination, and large-scale project execution capabilities are still likely to maintain a stronger competitive edge in major framework tenders and high-requirement projects.
Energy storage markets outside China continue to show structural growth in August. Public data released on August 12 shows that in 2Q26, energy storage projects surpassed PV projects for the first time among non-Chinese renewable energy projects undertaken by Chinese companies, with project numbers up 75%YoY. Growth was primarily driven by emerging markets, including the Middle East and Africa, Southeast Asia, and Pakistan. Unlike the previous reliance on equipment exports, Chinese energy storage companies are shifting their overseas expansion from product delivery toward system solutions, local services, and regional production coordination. Non-Chinese project owners are also raising requirements for delivery timelines, certification systems, O&M capabilities, and adaptability to extreme weather. Non-Chinese demand will not directly change low-price competition in China’s ESS market in the near term. However, it can generate higher-value orders for integrators with experience delivering large-scale projects, strong PCS–EMS integration, and localized service capabilities. Looking forward, the key focus is whether stringent projects outside China can offset China's domestic tender price pressure and enable leading players to secure a differentiated pricing premium through system solutions and localized execution.