EXECUTIVE SUMMARY
InfoLink Consulting reported further declines in China's lithium and energy storage cell prices. Battery-grade lithium carbonate fell 7.2% week over week to RMB 90,000/MT, while spodumene SC6 dropped 10% to $1,215/MT. LFP cell prices declined modestly, while most AC-side ESS prices remained stable amid supply expectations and demand uncertainty.
Source: InfoLink Consulting
Market: China
Lithium Carbonate: RMB 90,000/MT, down 7.2% WoW
Spodumene SC6: $1,215/MT, down 10% WoW
100 Ah LFP Cells: RMB 0.408/Wh, down 1.2% WoW
280 Ah and 314 Ah LFP Cells: RMB 0.353/Wh each, down 0.7% WoW
2-Hour DC-Side ESS: RMB 0.49/Wh, down 1.0% WoW
AC-Side ESS: Prices remained unchanged across 1-hour, 2-hour and 4-hour systems
InfoLink Consulting, market research and consulting firm, has reported further declines in lithium raw material and energy storage cell prices in China in its November 4, 2026, assessment. Electrochemical energy storage system (ESS) prices remained largely stable. Battery-grade lithium carbonate averaged RMB 90,000/MT, down 7.2% week over week, while spodumene concentrate SC6 averaged $1,215/MT and down 10%.
Lithium prices declined amid expectations of recovering mine supply and uncertainty over downstream demand. The Jianxiawo lithium mining project's environmental impact assessment received approval on October 30, raising expectations of production resuming in November. Continued lithium ore arrivals from outside China and rising port inventories reinforced supply expectations. However, the mine's output and utilization rate following production resumption remain uncertain.
October cell production fell below earlier plans, while market participants remained cautious about orders through the first quarter of 2027. Residential energy storage demand remained weak, although utility-scale storage construction and cell deliveries continued. Lithium carbonate prices are expected to fluctuate at low levels, with occasional rebounds possible.
China's lithium iron phosphate (LFP) energy storage cell prices also declined. The average transaction price for 100 Ah cells fell 1.2% to RMB 0.408/Wh. Prices for 280 Ah and 314 Ah cells each declined 0.7% to RMB 0.353/Wh. Lower cathode material costs and stronger customer bargaining power contributed to these adjustments.
Competition among cell manufacturers has increased as customers renegotiated purchases based on lower lithium salt prices. Demand for 280 Ah and 314 Ah cells were remained supported by utility-scale storage projects and existing orders. Weaker residential demand continued to affect smaller cells.
In the ESS segment, 2-hour DC-side liquid-cooled containerized systems averaged RMB 0.49/Wh and down 1.0%. Prices for 1-hour, 2-hour and 4-hour AC-side systems were remained unchanged at RMB 0.84/Wh, RMB 0.58/Wh and RMB 0.53/Wh, respectively.
Recent equipment procurement results reflected low pricing. Zhongtian Energy Storage secured a 20 MW/40 MWh ESS equipment contract worth RMB 23.08 million, equivalent to approximately RMB 0.577/Wh. At Weihai Carbon Fiber Industrial Park, the two leading bidders quoted approximately RMB 0.534/Wh and RMB 0.500/Wh for 18.75 MW/75 MWh of ESS equipment.
Meanwhile, the Southern Regional Electricity Market began formal operation on October 24, covering Guangdong, Guangxi, Yunnan, Guizhou and Hainan. The market framework also includes energy storage and virtual power plant participation. InfoLink noted that project returns will depend on electricity price spreads, dispatch frequency and ancillary service market competition.