February 6, 2026 — Data from Changjiang Nonferrous Metals Network shows that domestic lithium battery copper foil prices edged lower amid intensified market divergence.
The average price of 4.5μm lithium battery copper foil stood at RMB 129,500 per tonne, down RMB 1,000 day on day, a decline of 0.77%.
The 6μm grade fell to RMB 117,900 per tonne, down 0.97%, while 8μm foil slipped to RMB 116,900 per tonne, down 0.98%.

Supply Side High End Capacity Barriers Strengthen Pricing Power

The supply landscape continues to show pronounced structural divergence. Ultra thin high end copper foil remains tight, while standard specifications face mounting oversupply pressure.
Producers capable of mass producing ultra thin copper foil are highly concentrated, with utilization rates staying at elevated levels. In contrast, lower technology homogeneous capacity is operating at relatively low rates.
This imbalance stems from the high technical and process barriers involved in ultra thin foil production, making short term entry difficult. Leading producers have further consolidated their market position by securing downstream demand through long term contracts, reducing spot market liquidity.
Although new capacity projects have been announced, effective incremental supply remains limited and is largely concentrated among top tier players, keeping short term supply elasticity constrained.

Demand Side Energy Storage Offsets Seasonal EV Adjustment

On the demand side, rapid growth in the energy storage sector is offsetting seasonal adjustments in power battery demand. Energy storage has emerged as the primary growth driver, significantly boosting demand for high performance ultra thin copper foil due to its advantages in enhancing energy density and reducing material consumption.
While power battery demand has softened temporarily due to production schedule adjustments, demand from high end EV models and next generation battery technologies remains stable. Export demand has also held up well, providing additional support.

Policy and Costs Reshape the Supply Chain

Policy developments are reshaping the industry from both domestic and international fronts. Global carbon regulations are raising export costs and accelerating the shift toward greener manufacturing, while domestic industrial policies aim to optimize capacity structures and channel resources toward competitive players.
On the cost side, raw material prices are expected to remain at elevated levels, representing a rigid cost burden given their high share in production costs. Producers are increasingly relying on processing fee adjustments to preserve reasonable margins.

Macro Environment and Market Sentiment

Macro volatility has heightened price sensitivity across the market. Global capital flows continue to influence sentiment in base metals, but strong long term supply demand fundamentals have kept high end lithium battery copper foil on the radar of institutional investors.
Short term procurement remains cautious amid seasonal factors, yet medium to long term expectations remain constructive, particularly as AI related applications drive demand for specialized high performance copper foil, reinforcing scarcity driven premiums.

Outlook Post Holiday Demand Recovery May Trigger Rebound

Looking ahead, demand recovery following the Lunar New Year is expected to re expose supply tightness in the high end segment, potentially supporting higher processing fees.
Market participants are advised to closely monitor the pace of capacity releases by leading producers, as well as the commercialization progress of next generation composite current collectors. Over the medium to long term, companies with core technologies and strong supply chain integration are likely to retain strategic advantages.

Source：Changjiang Nonferrous Metals Network