[SMM Data] September electrolyte production increased MoM, with output expected to continue rising next month.

In September 2024, China's electrolyte production rose 15.15% MoM and was up 32.69% YoY. Demand growth in the end-use market increased, leading to an overall rise in demand, and the operating rate of electrolyte factories significantly improved compared to the previous month. Due to a slight increase in LiPF6 prices, some electrolyte companies chose to wait for raw material prices to stabilize, showing weak willingness to stockpile, with most orders being produced and sold on demand. Meanwhile, the operating rate of battery cell enterprises increased significantly compared to August, prompting electrolyte factories to moderately raise their operating rates according to market demand, resulting in a substantial increase in production.

In September, due to the rise in lithium carbonate and lithium fluoride prices, LiPF6 prices also adjusted. This price change gradually affected the electrolyte end-use, leading to a slight increase in electrolyte prices.

Looking ahead to October, end-use demand is expected to continue rising, and electrolyte demand is also expected to further increase. China's electrolyte production in October is expected to rise about 4% MoM and grow about 60% YoY.