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In January 2024, the production of ternary cathode precursors decreased by 13% MoM and 12% YoY.
Supply side, the reduction in precursor production was mainly due to production cuts by top-tier enterprises. Some top-tier enterprises experienced production impacts due to production line maintenance, while others made significant production adjustments due to the Chinese New Year holiday and lower-than-expected downstream orders. Demand side, as the beginning of the year is an off-season, the production of downstream ternary cathode materials was affected, leading to an overall decline in demand.
Looking ahead to February, considering weak demand and the impact of the Chinese New Year holiday, the production of ternary cathode precursors is expected to decrease by 9% MoM and 0.4% YoY.
SMM New Energy Research Team
Cong Wang 021-51666838
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Ying Xu 021-51666707
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Ye Yuan 021-51595792
Zhicheng Zhou 021-51666711
Haohan Zhang 021-51666752
Zihan Wang 021-51666914
Xiaoxuan Ren 021-20707866
Yushuo Liang 021-20707892
Jie Wang 021-51595902
Yang Xu 021-51666760
Lianting Yang 021-51595835
