SMM May 14 update:
Electrolyte market prices remained stable this week. Specifically, the average prices for ternary EV, LFP, and LMO electrolyte were 28,950 yuan/mt, 27,200 yuan/mt, and 21,500 yuan/mt, respectively. Cost side, electrolyte solvent and additive prices showed no significant fluctuations recently. The core raw material LiPF6 saw production costs rise notably, driven by upstream lithium carbonate and anhydrous hydrogen fluoride price increases, forcing producers to raise their quoted prices. Combined with partial just-in-time procurement support from downstream, this pushed LiPF6 market prices slightly higher. However, at the current stage, most electrolyte industry orders had already locked in raw material and product pricing in advance, and there was a certain time lag in transmitting raw material price increases to finished electrolyte products. Therefore, overall electrolyte prices showed no significant changes in the short term. Supply-demand pattern perspective, the electrolyte industry maintained a production pace based on just-in-time production schedules. On one hand, NEV vehicle battery capacity continued to rise steadily, and combined with positive overall industry sales expectations, the EV sector demand provided strong support. On the other hand, the ESS sector is expected to see sustained demand growth, driven by the June 30 concentrated grid connection installation rush period. With multiple positive factors resonating, downstream demand recovered steadily, driving electrolyte industry production to rise in tandem. Overall, the subsequent electrolyte market price trend still requires continuous tracking of raw material price transmission and supply and demand changes.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lv Yanlin 021-20707875
Xu Mengqi 021-20707868
Hu Xuejie 021-20707858
Chen Bolin 021-51666836
Wang Yizhou 021-51595909
