SMM May 7 update:
Electrolyte market prices remained stable this week. Specifically, the average prices of electrolyte for ternary NEV, LFP, and LMO applications were 28,950 yuan/mt, 27,200 yuan/mt, and 21,500 yuan/mt, respectively. Cost side, the overall composite cost of electrolyte saw relatively small fluctuations this week. LiPF6 side, driven by lithium carbonate, lithium fluoride prices rose notably, compounded by continued increases in anhydrous hydrogen fluoride prices, pushing up LiPF6 raw material costs continuously. Meanwhile, after a period of continued destocking, enterprise inventory pressure has eased significantly, and manufacturers' willingness to raise prices has strengthened, with quotes generally raised, driving LiPF6 market prices to rise. Solvent segment, overall industry supply remained ample, and upstream raw material cost support for solvents weakened compared to the previous period, causing some solvent prices to pull back slightly. As the changes in LiPF6 and solvent raw material prices offset each other, the overall composite cost of electrolyte saw limited fluctuations, and market prices remained stable. Supply-demand pattern side, electrolyte enterprises generally maintained a production pace of produce based on sales. In April, China automakers' overseas auto sales grew significantly, and the upcoming auto show is expected to continue boosting NEV sales. Additionally, energy storage sector demand maintained steady expansion, and overall downstream demand is expected to continue recovering, thereby driving electrolyte production to rebound in tandem. Overall, the subsequent electrolyte market price trend still requires continuous tracking of raw material price fluctuations 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
