In June 2025, the production of LMO declined slightly MoM.

Supply side, the production plans of leading LMO enterprises remained stable, with relatively small fluctuations in overall production. However, some small and medium-sized enterprises, lacking cost advantages, faced fierce market competition. The spot price remained low, with limited profit margins, leading most enterprises to choose production cuts or even shut down operations. Additionally, as downstream battery cell manufacturers primarily purchased for rigid demand and were unwilling to stock up in large quantities, market demand remained weak, failing to stimulate the production enthusiasm of LMO enterprises, resulting in a significant decline in the total market supply.

It is expected that by July 2025, the activity of the downstream market may increase, with the number of inquiries possibly rising, thereby driving an MoM increase in the supply of LMO enterprises.