China's LFP cathode material production dropped 8.1% month on month at 150,600 tonnes in August, primarily due to soft end-market demand, inconsistent orders from battery cell factories, and cathode material manufacturers' destocking.
It is expected that China's LFP production will pick up and jump 8.81% MoM at 163,900 t in September with improving production scheduling of manufacturers, which, however, is still subject to the actual market dynamics of both power battery and energy storage sectors.
China's iron phosphate production stood at 130,200 t in August, down 2.41% from July. Apart from established top-tier manufacturers which maintained high production, most new plants' actual production was less than expected due to falling downstream demand.
Mysteel estimates that the iron phosphate production will rebound 9.21% MoM at 142,000 t in September with LFP cathode material manufacturers expected to ramp up the production.
Written by Aggie Hu, huchenying@mysteel.com