Current Trends and Prices in Cathode Materials for Lithium Batteries

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### Latest Update in the SMM Cathode Material Market

#### Cathode Material Prices Overview
Below is the latest pricing information for various cathode materials as of June 16, 2025:

| **Material** | **Price Range (USD/mt)** | **Average Price (USD/mt)** | **Change (%)** |
|———————————————————|—————————-|—————————–|—————–|
| 5-Series Ternary Cathode Material (Monocrystalline, For NEV) | 13,776.01 – 14,383.07 | 14,079.54 | -17.43 |
| 5-Series Ternary Cathode Material (Polycrystalline, For Consumer Electronics) | 12,735.79 – 13,188.01 | 12,961.90 | -8.52 |
| 6-Series Ternary Cathode Material (Monocrystalline, For NEV) | 14,386.14 – 15,370.45 | 14,878.29 | -21.34 |
| 6-Series Ternary Cathode Material (Polycrystalline, For Consumer Electronics) | 13,106.91 – 14,244.82 | 13,675.86 | -11.17 |
| 8-Series Ternary Cathode Material (Polycrystalline, For NEV) | 17,341.52 – 17,938.74 | 17,640.13 | -22.11 |
| 8-Series Ternary Cathode Material (Polycrystalline, For Consumer Electronics) | 15,691.18 – 16,256.45 | 15,973.81 | -21.65 |
| NCA Ternary Cathode Material | 17,732.29 – 18,135.36 | 17,933.83 | -22.19 |
| LFP (High-End, For NEV) | 3,910.20 – 4,217.41 | 4,063.80 | -6.05 |
| LFP (Mid-End, For NEV) | 3,653.37 – 3,819.26 | 3,736.32 | -9.64 |
| LFP (High-End, For ESS) | 3,677.95 – 3,997.45 | 3,837.70 | -10.90 |
| LFP (Mid-End, For ESS) | 3,492.39 – 3,610.36 | 3,551.37 | -12.05 |
| LFP (Low-End, For ESS) | 3,176.58 – 3,373.19 | 3,274.88 | -4.60 |
| Restorative LFP | 2,639.57 – 2,802.76 | 2,721.16 | -0.76 |
| LMFP | 4,939.97 – 5,456.09 | 5,198.03 | -19.88 |
| LCO (Co≥60%, 4.2V) | 25,510.91 – 25,793.54 | 25,652.23 | -44.00 |
| LCO (Co≥60%, 4.4V) | 26,149.91 – 26,309.66 | 26,229.79 | -44.16 |
| LCO (Co≥60%, 4.45V) | 26,653.74 – 26,850.36 | 26,752.05 | -44.31 |
| LCO (Co≥60%, 4.48V) | 27,083.84 – 27,280.45 | 27,182.14 | -44.43 |
| LCO (Co≥60%, 4.5V) | 27,452.49 – 27,685.97 | 27,569.23 | -44.53 |
| LCO (Co≥60%, 4.53V) | 27,845.72 – 28,091.49 | 27,968.61 | -44.65 |
| LMO (for NEV) | 3,686.55 – 4,178.09 | 3,932.32 | -1.09 |
| LMO (For High-Capacity Battery) | 3,072.12 – 3,809.43 | 3,440.78 | -0.96 |
| LMO (MnO2, For High-Capacity Battery) | 3,563.66 – 3,809.43 | 3,686.55 | -1.02 |
| LMO (Mn3O4, For High-Capacity Battery) | 3,072.12 – 3,317.89 | 3,195.01 | -0.89 |
| LMO (MnO2, for NEV) | 4,055.20 – 4,178.09 | 4,116.64 | -1.14 |
| LMO (Mn3O4, for NEV) | 3,686.55 – 3,932.32 | 3,809.43 | -1.06 |

#### Cathode Material News
– **EU Initiatives**: The EU has recently selected 13 significant overseas strategic raw material projects as part of its initiative to secure the supply chain for critical minerals. This effort is projected to require an investment of approximately €5.5 billion (around 45.05 billion yuan). The projects span 13 countries including Canada, Greenland, Kazakhstan, and several others. (Date: June 17, 2025)

– **Impact of New HS Codes**: On June 10, the Ministry of Ecology and Environment of the People’s Republic of China announced new HS codes for recycled black mass raw materials from lithium-ion batteries. This regulation will be effective from August 1, 2025, and may significantly affect domestic lithium battery recycling enterprises. (Date: June 16, 2025)

– **Changes in Automotive Supply Chain**: Following the “Regulation on Ensuring Payments to Small and Medium-sized Enterprises,” which took effect on June 1, 2025, major automakers, including GAC and BYD, have committed to shortening payment terms for suppliers to within 60 days. This adjustment is reshaping the automotive supply chain, particularly impacting upstream battery cell manufacturers. (Date: June 16, 2025)

– **Investment in Graphite Anode Materials**: Ruizhi New Materials has commenced construction on a project to produce 60,000 mt of graphitised anode materials for lithium batteries, with a total investment of approximately 1.42 billion yuan. The project will be developed in two phases, with trial production expected to begin in Q1 2026. (Date: June 16, 2025)

– **Market Analysis**: In June, the energy storage sector experienced weakened demand due to the phase-out of mandatory energy storage policies. The automotive market’s previous surge has also subsided, leading to stable prices in the echelon utilization battery market. Participants are adopting a cautious approach as supply and demand remain balanced. (Date: June 15, 2025)

– **Scrap Price Trends**: In the recycling sector, cobalt sulfate prices have declined, while lithium salt prices have shown a slight rebound. The recovery rates for ternary and lithium cobalt oxide black mass have decreased, with most enterprises adjusting their pricing strategies to account for lower lithium carbonate prices. (Date: June 14, 2025)

– **Zimbabwe’s Export Ban**: Zimbabwe is set to ban the export of lithium concentrates starting in 2027, which may have significant implications for the global lithium market. (Date: June 14, 2025)
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