【Cathode Material Output Up 55% YoY in March, Expected to Slow to 16% Growth in April】
In March, the total output of the four major cathode materials increased by 55%, with lithium iron phosphate materials seeing a 70% increase. Lithium iron phosphate companies' orders have been gradually recovering in March, with leading companies seeing notable order increases, higher operating rates, and increased supply. Nickel-cobalt-manganese (NCM) materials saw a 33% increase, with mid-nickel NCM being a hot market product, maintaining substantial growth in March, while low-nickel and high-nickel NCM also recovered from the February trough. Lithium cobalt oxide and lithium manganese oxide achieved 44% and 26% year-on-year increases respectively.
It is expected that in April, the total output of the four major cathode materials will increase by around 16% month-on-month, with the growth rate slowing down compared to March.