Downstream destocking to lower China anode material production in Q4

October lithium battery production is scheduled to reach 345GWh, up 3.90% MoM, but the growth rate fell 5.30 percentage points. Battery makers are prioritizing feedstock destocking, and anode material output is expected to edge down in Q4 2026. Graphitization capacity constraints and the expected cancellation of export tax rebates also weigh on production.

As Q4 begins, downstream battery makers are prioritizing feedstock destocking, and anode material producers are adopting a make-to-order approach, with output expected to edge down. China Lithium Battery Production Schedules, 2025-2026 (Unit: GWH) Source: TD October lithium battery production is scheduled to reach 345GWh, up 3.90% month-on-month and 85% year-on-year, but the