China’s 314 Ah storage cell prices climb more than 20% in six months

China’s utility-scale energy storage cell market has reversed course over the past six months, with prices for mainstream 314 Ah LFP cells rising from an average of CNY 0.300/Wh ($42/kWh) in late October 2025 to CNY 0.365/Wh as of April 20, 2026, according to InfoLink Consulting. That implies a climb of about 22%, while the current market range for 314 Ah products has widened to CNY 0.335-0.395/Wh. Prices for 280 Ah cells also moved up over the same period, from CNY 0.298/Wh to CNY 0.370/Wh on average.

The rebound marks a sharp shift from the low-price environment that dominated much of 2024 and early 2025. InfoLink’s market notes show 314 Ah cells averaging CNY 0.310/Wh in early December and CNY 0.360/Wh by early February, with some framework-procurement quotes for 314 Ah products already exceeding CNY 0.40/Wh by late January. The pricing trend has also begun to feed through into system pricing, with two-hour DC-side liquid-cooled ESS averages rising from CNY 0.41/Wh in October 2025 to CNY 0.49/Wh in April 2026.

The first driver is raw materials. Battery-grade lithium carbonate climbed from an SMM (Shanghai Metal Market) average of CNY 73,550/mt in October 2025 to CNY 181,500/mt by Jan. 26, 2026, according to SMM analysis, before easing and then rising again to an InfoLink average of CNY 167,000/mt on April 20. Reuters separately reported that lithium prices surged on tighter supply, policy moves to curb “irrational” competition, the suspension of CATL’s Jianxiawo mine, which locates in Yichun, Jiangxi province, and expectations of stronger battery demand.

The second driver is demand. InfoLink said leading storage-cell makers were running highly utilized lines through the first quarter, tightening delivery availability and strengthening suppliers’ bargaining power. Reuters has also linked stronger lithium demand to China’s storage boom, power-market reforms, and front-loaded exports ahead of reduced battery export tax rebates. On the policy side, China has introduced a national capacity-pricing mechanism for grid-side storage, as reported by ESS News. The change was touted as a structural improvement in storage project economics.

For now, the market still looks firm. InfoLink said recent cell prices have stayed in a high range, and that any easing will depend less on short-term lithium moves than on delivery schedules, new order strength, and how price-linkage clauses are settled in medium- and long-term contracts. That suggests the market may remain tight in the second quarter, although additional capacity ramp-ups could ease the trend later this year.