According to Mysteel survey, the production scheduling of battery cell factories in November and December has beaten the market expectations, especially the top-tier battery cell manufacturers.
The momentum is allowed by the energy storage sector, and the power battery demand in Europe is also more than expected, in addition to a stable electric vehicle market in China.
Therefore, unlike the market situation in 2023 when the LFP production weakened approaching the year-end, the cathode production in November and December 2024 is likely to remain resilient thanks to the robust energy storage sector.
In this case, Mysteel has revised our supply-demand balance forecast for November and December from oversupply to short supply as we have lifted the LFP cathode production estimation.
Source: Mysteel
Written by Aggie Hu, huchenying@mysteel.com
