【SMM Analysis】 LiPF6 production down month - on - month

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In February 2025, LiPF6 production continued to fall. On the demand side, electrolyte demand declined due to the Spring Festival, and most electrolyte plants had restocked LiPF6 in January, so their demand weakened. On the supply side, manufacturers generally arrange production based on orders. With lithium carbonate prices falling, many are hesitant and reluctant to build up inventory. On the cost side, lithium carbonate prices have been declining, but lithium fluoride prices remained firm or even rose in December - January. Most LiPF6 manufacturers don't produce lithium fluoride themselves and rely on external procurement, so raw material costs haven't dropped significantly.

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