China’s output of lithium iron phosphate (LFP) and ternary batteries rose 121% last month, according to the China Automotive Manufacturers Association (CAAM).
In November, China’s LFP and ternary—nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminium oxide (NCA)— battery output reached 28GWh (up by 12.4% the previous month).
Lithium iron phosphate battery production reached 17.8GWh—up 229% year-on-year (yoy), last month; with 10.4GWh of NCM and NCA batteries produced in November— up 42% from the previous year.
Total production of LFP batteries reached 188GWh between January and November this year (up 275.7% yoy), with NCM/NCA production reaching 105GWh (up 106% yoy) in the same time frame.
Cobalt sulphate and nickel sulphate— key materials in ternary lithium-ion batteries— cost as much as at Yn96,500/t ($15,154) and Yn36,000/t ($5,653) respectively, having risen by 68% and 16% since the start of this year, according to an assessment by Argus Media on 9 December.
The average price of an NMC (811) cell was $10/kWh higher in the fourth quarter of this year than it was in the first three months of 2021, with prices now closing in on $110/kWh, estimates industry analysts Bloomberg BNEF.
Newly installed volume
Total installed volume of batteries was 20.8GWh last month, and reached 128.3GWh for the year from January to November
Of that total, LFP made up 11.6GWh— a rise of 145% yoy— and 64.8GWH between January to November— a rise of 270% yoy.
China's battery behemoths CATL (65.93GWh), BYD (21.34GWh) and China Aviation LB (7.5GWh) were the top three battery manufacturers for installed volumes between January-November, accounting for 51.4%, 16.6% and 5.8% of the overall total, respectively.