[SMM Analysis] November LiPF6 Price Change Analysis

In November 2024, the price of lithium carbonate, a core raw material in the battery industry, rebounded and began to rise. Data shows that the price of battery-grade lithium carbonate increased from 73,850 yuan/mt to 78,200 yuan/mt, a rise of 5.9%. Meanwhile, the price of industrial-grade lithium carbonate also rose from 69,700 yuan/mt to 74,950 yuan/mt, an increase of 7.5%.

The rise in lithium carbonate prices also drove up the price of LiPF6. As an important electrolyte raw material for lithium batteries, the price of LiPF6 increased due to the continuous rise in the prices of its raw materials, lithium carbonate and lithium fluoride, coupled with the strong stance of LiPF6 companies on quotes. In November, its price rose from 55,075 yuan/mt to 58,750 yuan/mt, an increase of 6.7%.

Driven by strong downstream demand and significant cost increases, the price of LiPF6 rose significantly. As the demand for LiPF6 from downstream electrolytes continued to increase, the operating rate in the industry also correspondingly increased, and the market supply-demand relationship tended to balance. Some LiPF6 companies have already reached full production capacity to meet downstream demand. Against this backdrop of supply-demand balance, coupled with the rebound in upstream raw material prices, the price of LiPF6 rose strongly, with an increase of 6.7%.

However, the future price trend still needs to pay attention to the global economic situation and changes in industry supply and demand to better grasp market dynamics. Overall, the market still maintains a certain degree of flexibility to cope with possible future fluctuations.