Latest Update in the China Chemical Compound Market

As an upgraded version of lithium iron phosphate (LFP), lithium manganese iron phosphate (LMFP) is becoming a new hot spot in the power battery field.

Individual consumers who scrap or transfer their passenger cars registered in Shanghai in line with relevant standards and purchase pure electric vehicles before June 30, 2023 will enjoy a subsidy of 10,000 yuan per vehicle.

The decline in raw material prices, coupled with the feeble terminal demand, will weigh on the LCO prices.

The data shows that Tesla's quarterly operating income and net profit in Q4 2022 both surpassed expectations and set a new record in history.

Affected by the expectations of improving domestic consumption, both SHFE nickel and LME nickel prices increased before the Chinese New Year holiday. During the CNY holiday, SHFE stopped trading and LME nickel prices fluctuated at a high level within the rage of $28,000-29,800/mt during January 23 to January 27.

According to foreign media reports, a battery factory owned by CATL and located in Germany was put into operation on January 26. It is worth mentioning that this is the first factory owned by CATL outside of China.

The market was quiet during the Chinese New Year (CNY). Smelters will hold offers firm, despite growing inventory.

China's lithium battery anode material output stood at 1.37 million mt in 2022, an increase of about 90% YoY.