[SMM Data] December LiPF6 Production Down MoM, Output Expected to Decline Further in January 

In December 2024, China's LiPF6 production was down 3% MoM but up 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. LiPF6 prices in December saw a slight increase, driven by raw material factors and a balanced overall market supply and demand. Currently, downstream purchasing remains cautious, with orders primarily based on a producing-based-on-orders model, and inventory levels are at a low point. Additionally, the operating rate of battery cell enterprises declined compared to November, prompting LiPF6 factories to adjust production flexibly according to market demand, resulting in reduced output.

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 decrease by approximately 8% MoM while increasing by about 85% YoY.