SMM

[SMM Analysis: Weekly Overview of LFP Materials] This week, LFP market prices remained relatively stable. Lithium carbonate prices dropped slightly by about 30 yuan/mt this week, while processing fees showed no significant changes. Regarding lithium carbonate discounts, downstream battery cell manufacturers generally maintained a sentiment of pushing for lower discounts, but the outcomes varied depending on the negotiation terms between the parties. Supply side, the overall operating rates of LFP material manufacturers remained relatively stable this week, though some medium- and small-sized LFP manufacturers implemented production cuts or halted production. Leading material manufacturers maintained stable production. Demand side, some downstream battery cell manufacturers slightly reduced their February procurement volumes, leading to minor adjustments in certain supply chain structures. Overall, February inventory remained in a state of inventory buildup.