Lithium prices surge on supply cuts; storage cell prices find
ESS cell prices have edged up slightly. According to the latest data, prices for LFP prismatic cells are as follows: 100 Ah: RMB 0.330–0.400/Wh, averaging RMB 0.365/Wh.
Lithium ore at a warehouse in Yichun, China. Photographer: Gilles Sabrie/Bloomberg Chinese lithium prices are rising due to growing confidence in demand for large-scale battery storage, driven by policy support in China and increasing global momentum for energy storage systems.
Capacity expansion is also under way. For instance, CATL still had 235 GWh under construction as of June, while Hunan Zhongke Electric announced in December a plan to produce 300,000 tonnes of lithium battery anode material. The current lithium prices remained 83 per cent below the 2022 peak of more than 600,000 yuan (US$85,211) per tonne.
During the third quarter of 2025, lithium prices showed a recovery after a prolonged decline in the previous quarters. The market was shaped by constrained supply, regulatory interventions, and steady demand from downstream sectors. In China, lithium prices moved upward through the quarter. Lithium Price Chart
The lithium mine production increased from about 35,700 metric tons in 2023 to around 41,000 metric tons in 2024 in the Chinese region. Along with this, increased upstream spodumene output, coupled with elevated inventory levels of lithium chemicals, put downward pressure on prices in all major Asian markets.
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