In 2026, the correction in lithium carbonate prices drove up lithium battery production costs. Coupled with uncertainties in lithium resources supply, cost pressure across the new energy industry became increasingly prominent. Leveraging the advantages of abundant sodium resources, balanced distribution, and controllable costs, sodium-ion batteries have leapt from being a “backup option” for lithium batteries to a key direction for industry breakthrough...

Lithium carbonate, as a core raw material in the lithium battery industry chain, has seen recent price fluctuations driving up lithium battery production costs.

In November, the production end of sodium-ion battery cathode materials performed impressively, with production up 50% MoM and 54% YoY, indicating a continuous recovery in industry prosperity. In terms of product structure, poly-anion NFPP remains the market mainstream, accounting for 76% of total production, an increase of 4 percentage points from October, further highlighting the leading effect.

Latest data from the General Administration of Customs shows that China's shell charcoal imports reached 16,164.37 mt in September 2025, surging 35% MoM and up 64% YoY. The average import price also rose, climbing from $755.4/mt in August to $819.6/mt, up 9% MoM. Behind these impressive figures, the explosive growth of the sodium-ion battery market is the core driver, coupled with supply-side constraints, jointly pushing the shell charcoal import market into a strong pattern of "rising volume and price."