On December 12, according to the latest research from TrendForce, in November 2024, sales of electric vehicles in China continued to grow, boosting the demand for power batteries. The price of Lithium Iron Phosphate (LFP) Cells remained stable, while the price of ternary Cells slightly declined. The energy storage market maintained peak season characteristics for Cell demand, coupled with the price advantages of large-capacity Cells, increasing their shipment proportion. However, due to the slowdown in Order demand at the end of the year, the average price of energy storage Cells continued to decline in November. The institution expects that in the peak season of 2025, some Lithium Battery material prices may see a slight increase, which is expected to help recover the severe losses experienced by companies earlier. However, as the supply-demand relationship has not shifted from surplus to shortage, the expected increase in material prices is limited, and with battery manufacturers actively controlling costs, the price trend of Cells next year will primarily remain stable.