Battery-grade iron phosphate prices in China turned lower again in the week to Friday January 5, with oversupply and weak demand forcing some sellers to lower prices aggressively to boost sales

China’s lithium prices resumed their downtrend in the week to Thursday December 21 amid continued tepid appetite from consumers, with a softening futures market contributing to further weakness in the spot market, sources told Fastmarkets

While the downstream electric vehicle market witnessed spectacular sales and output growth in November, the upstream battery raw materials prices continued to experience bearishness amid slow buying and increasing capacity

As the electric vehicle (EV) revolution accelerates, battery makers find themselves at the forefront of a burgeoning industry but an industry not without its challenges

As the demand for battery materials continues to grow, those in procurement are facing a huge challenge: making sure they can get a steady and reliable supply of battery materials

In the ever-expanding world of electric vehicles (EVs), industry players face three key challenges; securing a reliable supply of battery materials, determining the most cost-effective battery chemistry and navigating the impact of current price momentum on profit margins.

Lithium iron phosphate (LFP) batteries are expected to take the largest market share in the next 10 years, driving the need for more pricing transparency across the chemistry’s supply chain

South Korea plans to reduce its reliance on countries such as China when it comes to sourcing materials - including critical minerals such as graphite and rare earths - to avoid potential supply chain disruptions.

Read more on how we are bringing transparency to the LFP battery market

This recommendation, along with others like promoting domestic battery recycling and research funding for alternative battery chemistries, is part of a larger strategy to enhance US resilience in strategic areas