In October 2024, China's electrolyte production was up 8.6% MoM and up 67% YoY. The growth rate of demand in the end-use market increased, leading to an overall rise in demand. The operating rate of electrolyte factories significantly improved compared to the previous month. Due to a slight increase in the price of LiPF6, some electrolyte enterprises chose to wait and see, hoping for raw material prices to stabilize. As a result, their willingness to stockpile raw materials was not strong, and most orders were produced and sold on demand. Meanwhile, the operating rate of battery cell enterprises saw a significant increase compared to September, prompting electrolyte factories to moderately raise their operating rates based on market demand, thus boosting production.
In October, due to the price increases of anhydrous hydrogen fluoride and lithium fluoride, the price of LiPF6 was also adjusted. This price change gradually transmitted to the electrolyte end-use, causing a slight upward trend in electrolyte prices.
Looking ahead to November, end-use demand is expected to continue rising, further boosting electrolyte demand. China's electrolyte production in November is expected to be up about 6.4% MoM and up about 88% YoY.
