Cell Average Rose 0.7%; the Movement Is Smaller Than the Source Gap
InfoLink's China LFP cell average broke three weeks of flat at RMB 0.360/Wh, posting +0.7% WoW on August 26. SMM reported 314 Ah prices softening the next day. The RMB 3/kWh movement sits inside the standing RMB 5-7/kWh gap between the two assessors, and it arrived in a week when lithium, iron phosphate, electrolyte additives, and the September 1 consumption tax were all pressing on the cost stack. One print cannot decompose four inputs. This issue traces each channel separately and identifies when a clean read on underlying transmission becomes possible.
Cell Average Rose 0.7%; the Movement Is Smaller Than the Source Gap
InfoLink's China LFP cell average broke three weeks of flat at RMB 0.360/Wh, posting +0.7% WoW on August 26. SMM reported 314 Ah prices softening the next day. The RMB 3/kWh movement sits inside the standing RMB 5-7/kWh gap between the two assessors, and it arrived in a week when lithium, iron phosphate, electrolyte additives, and the September 1 consumption tax were all pressing on the cost stack. One print cannot decompose four inputs. This issue traces each channel separately and identifies when a clean read on underlying transmission becomes possible.
September Print Preparation
China's 2% consumption tax on lithium-ion batteries takes effect September 1. The first post-September price prints from InfoLink and SMM will carry basis changes that look like price moves if read week-over-week without adjustment.
The product boundary matters most. Cells and clusters are taxable; a complete ESS with electrical, thermal, and control systems is not (STA Q&A, August 27). CT paid on cells cannot be deducted when those cells go into a non-taxable product like a complete ESS or an EV (PwC, July 24). Cell and system quotes should diverge accordingly.
InfoLink's tax-inclusive series will blend three cohorts in the same weekly print: pre-September deliveries carrying no CT, repriced undelivered orders (some cell makers sent adjustment notices by August 26), and new post-September contracts with full CT invoicing. Cost movement and tax-recovery variation will be inseparable in the aggregate number.
Two additional breaks land the same week: SMM retires several pack benchmarks after August 28, and Fastmarkets implements revised CIF CJK lithium methodology September 1 with no historical restatement.
