[SMM Data] December LiPF6 Production Down MoM, Output Expected to Continue Declining Next Month

In December 2024, China's LiPF6 production fell 3% MoM but rose 142% YoY. This was mainly due to declining end-use market demand and an overall decrease in industry demand, leading to a drop in the operating rate of LiPF6 factories compared to the previous month. In December, LiPF6 prices increased slightly, driven by factors such as raw material costs and a balanced overall market supply and demand. Currently, downstream purchases remain cautious, with orders primarily produced based on orders, and inventory levels are low. Additionally, the operating rate of battery cell enterprises declined compared to November, and LiPF6 factories adjusted production flexibly according to market demand, resulting in reduced production.

Looking ahead to January, end-use demand is expected to continue declining, further weakening demand for LiPF6. China's LiPF6 production in January is expected to fall approximately 8% MoM but grow about 85% YoY.