The price of electrolyte remained stable this week (June 23-26, 2025) [SMM Weekly Review of Lithium Electrolyte Market]

SMM June 26 News:

This week, the price of electrolyte remained stable. The average prices of electrolytes for ternary power batteries, LFP batteries, and LMO batteries were 21,900 yuan/mt, 17,950 yuan/mt, and 14,525 yuan/mt, respectively. On the cost side, the price of LiPF6, a core raw material for electrolytes, declined slightly, while the price of solvents rose slightly due to the impact of upstream petrochemical product prices. The price of additives remained stable. Overall, the overall manufacturing cost of electrolytes has not seen significant fluctuations recently, and the cost side maintained a relatively stable pattern. On the demand side, affected by seasonal factors, the NEV market saw mediocre auto sales, leading to a slight MoM decline in demand for power batteries. However, in the ESS market, overseas ESS demand showed growth. Overall, demand remained relatively stable. On the supply side, electrolyte enterprises continued to deepen the "produce based on sales" operational model. Currently, the market price of electrolytes remains low, and some producers selectively abandoned low-profit or negative-profit orders based on profit considerations. However, constrained by the industry's structural overcapacity, market competition pressure remains significant, and some enterprises have to resort to volume discount. Considering multiple factors, it is expected that the price of electrolytes will continue to fluctuate rangebound in the future.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858