This week, prices for some Grade-B battery cells in the second-life battery market rose. Cost side, lithium carbonate prices fluctuated more sharply this week and showed an overall upward trend, directly pushing up battery cell production costs; nickel sulphate prices edged up, while cobalt sulphate prices remained stable, providing mild support on the cost side and lifting overall cost pressure somewhat. Supply side, the market was clearly boosted by energy storage demand, enterprises showed relatively strong willingness to sell, and circulating supply was steadily released; coupled with rising lithium carbonate prices, enterprises' expectations for higher costs strengthened, and overall pricing sentiment remained firm to slightly stronger. Demand side, demand for second-life Grade-B battery cells recovered significantly, mainly driven by the energy storage market, as downstream energy storage projects commenced and supporting demand continued to be released, noticeably boosting procurement enthusiasm.

[SMM Lithium Battery Electrolyte Market Weekly Review: Electrolyte Prices Remained Temporarily Stable This Week (2026.3.9-3.12)] From March 9 to March 12, 2026, electrolyte prices remained temporarily stable. Considering the overall trend in cost-side changes and the supply-demand pattern, electrolyte prices were expected to remain temporarily stable in the short term.

This week，the solid-state battery industry showed a dual-engine momentum driven by "intensive breakthroughs on the technology front and targeted solutions on the policy front." CATL disclosed a sulphide patent, Zhongkeyuanben's 20Ah all-solid-state battery passed third-party detection, and Dreame Technology released a 450Wh/kg product; Guangdong took the lead in incorporating diversified solid-state battery technology routes and eVTOL scenarios into provincial-level action plans.

Geopolitical conflict in the Middle East led to a blockade of the Strait of Hormuz, cutting off the global sulphur supply chain (China’s import dependence exceeds 50%, with the Middle East accounting for 56%). Sulphur prices surged to 4,395 yuan/mt, directly pushing up phosphate fertiliser costs. Rigid demand from spring ploughing provided support, but China’s policies to ensure supply and stabilise prices curbed phosphate fertiliser gains。

Raw material side, this week lithium carbonate and nickel sulphate prices fluctuated, while cobalt sulphate prices began to drop slightly after remaining stable for an extended period.

According to institutional forecasts, the global demand for LMFP materials is expected to exceed 300,000 mt by 2030, with the market size surpassing 18 billion yuan. Era Rhino, supported by policies, has commenced production, coinciding with the implementation of the "strictest national battery safety standard" GB38031-2025 in 2026, which requires power batteries to be "non-flammable and non-explosive." The high thermal stability of LMFP materials will accelerate the replacement of medium and low-nickel ternary cathode materials, competing for a trillion-yuan market share.

Hunan Yuneng New Energy Battery Materials Co., Ltd. announced an invention patent on January 3, 2025, involving a high-conductivity LMFP precursor, LMFP, and its preparation method. The publication number of the patent is CN119240650A, and the application date is November 22, 2024. The inventors include Tao Chen, Zhilin Long, Fenglei Yu, Jiangtao Cheng, Tao Lin, and Ningxin Zhao. This technology has significant applications in the field of lithium-ion battery materials. The preparation method involves adding manganese source, iron source, and phosphorus source into a nitric acid solution, followed by the addition of nano-silicon dioxide, and conducting a constant-temperature hydrothermal reaction to obtain an intermediate. Subsequently, the intermediate is soaked in an HF solution to finally obtain the LMFP precursor. The precursor is combined with glucose-carbonized carbon nanotubes and a lithium source through a wet ball milling and calcination process. The resulting LMFP exhibits excellent specific capacity and C-rate performance, along with high conductivity.

**LMFP: Hunan Yuneng Invents Precursor** On December 31, 2024, Hunan Yuneng New Energy Battery Materials Co., Ltd. successfully developed and publicly disclosed an innovative patent titled "A Manganese Iron Phosphate Precursor and Its Preparation Method." Through chemical and solid-phase reactions involving phosphoric acid solution, iron powder, manganese carbonate, surfactant, and UiO-66-NH2/Nb2CTx composite material, a manganese iron phosphate precursor with uniform particle size, good morphology, and porous structure was developed. This precursor, when used to prepare LMFP cathode materials, can form a larger contact area with the electrolyte, thereby enhancing ion and electron transport performance, enabling lithium batteries to achieve higher capacity and superior cycling performance.

【100,000 mt/year Lithium Manganese Iron Phosphate (LMFP) Production Line Officially Launched in Gansu】On April 18, 2025, the 100,000 mt/year LMFP cathode material project of Baiyin Shidai Ruixiang New Material Technology Co., Ltd. (hereinafter referred to as "Shidai Ruixiang") was officially launched in the High-Tech Industrial Development Zone of Baiyin City, Gansu Province. The first phase of this project, with a total investment of 485 million yuan, has a production capacity of 20,000 mt. The company has a long-term plan to achieve a total capacity of 100,000 mt, which will be constructed in three phases. The first phase, with a production line capacity of 20,000 mt, has been fully operational, and is expected to generate an annual revenue of 1 billion yuan. Upon completion of the second and third phases, the total capacity will reach 100,000 mt.

The launch of Shidai Ruixiang coincides with the implementation of the "strictest national standard for battery safety" GB38031-2025 in 2026, which requires power batteries to "not catch fire or explode." The high thermal stability of LMFP will accelerate the replacement of medium- to low-nickel ternary cathode materials, seizing a trillion-yuan market.