In July 2024, the production of electrolyte decreased by 0.2% month-on-month, and the expected increase in August is 8.3%.
In July 2024, China's electrolyte production reached 109,570 mt, down 0.2% MoM and up 6.5% YoY. The growth rate of the end-user market demand slowed, overall demand declined, and the operating rate of electrolyte factories slightly decreased compared to the previous month. Due to the drop in LiPF6 prices, some electrolyte enterprises chose to reduce production moderately, waiting for further decreases in raw material prices. Consequently, their willingness to stockpile raw materials was weak, and most orders were produced and sold on demand. Meanwhile, the operating rate of battery cell enterprises slightly decreased compared to June, but electrolyte factories adjusted their operating rates according to market demand, resulting in a slight reduction in production.
In July, due to the decline in carbonate and fluoride prices, the price of LiPF6 was also adjusted. This price change gradually transmitted to the electrolyte end-users, leading to a slight decrease in electrolyte prices.
Looking ahead to August, end-user demand is expected to rise slightly, and electrolyte demand will further increase. China's electrolyte production in August is expected to be 118,640 mt, up approximately 8.3% MoM and about 7.0% YoY.
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