Imbalance between supply and demand, high certainty of market prospects, soaring prices. Under the superposition of multiple factors, lithium hexafluorophosphate head production enterprises are stepping up production expansion.
On June 17, Tianci announced that the company intends to invest in the construction of a project with an annual production capacity of 150000 tons of lithium hexafluorophosphate. According to people familiar with the matter, the project is to prepare for follow-up market demand, and production is expected to begin in 2023.
It is worth mentioning that not long ago, Tianshi just signed a supply contract with Ningde Times: Ningde Kaixin, a subsidiary of Tiancai Materials, signed a "material supply Framework Agreement" with Ningde Times, which agreed that from the effective date of the agreement to June 30, 2022, Ningde Kaixin will supply Ningde era with an estimated use of 15000 tons of lithium hexafluorophosphate corresponding to the quantity of electrolyte products. Ningde era prepaid product payment of 675 million yuan.
Yongtai Technology announced on June 15 that the holding subsidiary Yongtaigao plans to build an annual production capacity of 20000 tons of lithium hexafluorophosphate and 1200 tons of related additives with a plan of 790 million yuan.
It is understood that in addition to the lithium hexafluorophosphate project to be launched by the above two enterprises, the production capacity of lithium hexafluorophosphate under construction and planning is also under construction and planned, and is expected to be put into production one after another.
The price increases several times a year and the tension between supply and demand is difficult to solve for the time being.
Lithium hexafluorophosphate, the main component of lithium battery electrolyte, is the electrolyte with relatively good performance and the most widely used electrolyte, accounting for about 35% to 40% of the total cost of the electrolyte.
Industry data show that the current price of lithium hexafluorophosphate has exceeded 300000 yuan / ton, and some enterprises have quoted prices of 350000 yuan / ton. Some industry insiders predict that the price of lithium hexafluorophosphate will rise to a high of 400000 yuan / ton or return to its peak in 2015.
In fact, as early as 2015, thanks to the concept of new energy vehicles, the price of upstream material lithium hexafluorophosphate also rose rapidly, and the price once reached a high of 400000 yuan / ton. However, due to the subsequent accelerated release of industry capacity, there was a surplus of market supply in 2016, and market prices fell back to about 80,000 yuan / ton in the first half of 2020.
However, with the acceleration of the global automobile electrification process and the outbreak of the energy storage industry, the demand for power and energy storage batteries downstream of lithium hexafluorophosphate is growing rapidly, and lithium hexafluorophosphate is in a state of imbalance between supply and demand.
Data show that the current industry lithium hexafluorophosphate inventory is the lowest in recent years, although most of the major production enterprises continue to be full production, the industry operating rate of about 80%, but still in short supply. "Lithium hexafluorophosphate is expected to be in short supply in the second half of this year, and it is expected that supply and demand will remain tight next year. The low-cost long order signed by the company has been basically completed." Said the head of a listed company that produces lithium hexafluorophosphate.
Due to the imbalance between supply and demand, the price of lithium hexafluorophosphate has risen rapidly since August 2020. Data show that the latest market quotation has reached 310000 yuan / ton, a threefold increase from 105000 yuan to 115000 yuan / ton at the beginning of the year and a four-fold increase from August 2020.
Enterprises set off a wave of production expansion
It is understood that at present, domestic lithium hexafluorophosphate production enterprises are more concentrated, the main production enterprises include polyfluoroduo, Tianshi materials, Tianji shares, Juhua shares, Cunninghamia lanceolata shares and so on.
Capacity distribution of lithium hexafluorophosphate in some enterprises
With the rapid rise in the price of lithium hexafluorophosphate and the high optimism about its market prospect, a number of listed companies have increased their production capacity since the beginning of this year, most of which are polyfluoroduo, divine materials, Yongtai technology, Skyline shares and other enterprises. and some enterprises will basically release their new production capacity in the second half of the year.
At the online performance presentation held a few days ago, Polyfluorodo said that according to the higher-than-expected growth of the new energy vehicle market and the continued growth trend in the future, the supply of lithium hexafluorophosphate will continue to be tight. The company will seize the market opportunity and plan the new production capacity in time, and strive to reach 30,000 tons by the end of 2022.
The 2020 annual report shows that the company has formed an annual production capacity of 10, 000 tons of crystal lithium hexafluorophosphate, and is currently under construction with a production capacity of 5000 tons per year.
Tianji shares said that the company's wholly-owned subsidiary Xintai Materials annual production capacity of 6000 tons of lithium hexafluorophosphate project capacity gradually released, the total capacity will reach 8160 tons. It is reported that at present, the company's lithium hexafluorophosphate production line is basically full production, the company will timely launch relevant production expansion plans according to market conditions.
A few days ago, Yongtai Technology revealed that the company has put into production of 2000 tons of lithium hexafluorophosphate, 6000 tons of lithium hexafluorophosphate and 1500 tons of lithium difluorosulfonimide projects are under construction, and the time to reach production depends on the progress of the project.
For the proposed investment of 150000 tons of lithium hexafluorophosphate project, Tianci material said that the substantial increase in market demand, continue to build and increase production capacity is the inevitable requirement of the company's lithium battery material development.
It is worth noting that although many enterprises have indicated that they want to expand the lithium hexafluorophosphate project on a large scale, the production process of lithium hexafluorophosphate is more difficult, the environmental protection examination and approval requirements are strict, and the construction and production cycle of enterprises is generally long. the impact on alleviating the short-term supply and demand pattern is limited.
In fact, due to the rising prices of raw materials such as lithium hexafluorophosphate, the cost of battery production has increased significantly. It is understood that due to the rising prices of lithium carbonate, lithium hexafluorophosphate and lithium iron phosphate cathode materials, the manufacturing cost of lithium iron phosphate battery has increased by about 40%.
In the long run, the demand for lithium battery in the new energy vehicle and energy storage market will increase several times in the future, and with the advance layout of upstream raw material enterprises, it is expected to solve the impact of long-term shortage and high price of lithium battery materials.
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