[SMM Data] December LiPF6 Production Down MoM, Output Expected to Continue Declining Next Month

In December 2024, China's LiPF6 production fell 3% MoM but rose 142% YoY. This was mainly due to a decline in end-use market demand and an overall decrease in industry demand, leading to a drop in the operating rate of LiPF6 factories compared to the previous month. In December, LiPF6 prices increased slightly due to factors such as raw material costs and a balanced overall market supply and demand. Currently, downstream purchases remain cautious, with orders primarily following a producing based on orders model, and inventory levels are at a low point. Additionally, the operating rate of battery cell enterprises decreased compared to November, and LiPF6 factories adjusted production flexibly based on market demand, resulting in a decline in production.

Looking ahead to January, end-use demand is expected to continue declining, further weakening demand for LiPF6. China's LiPF6 production in January is expected to decrease by approximately 8% MoM but increase by about 85% YoY.

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