The price of electrolyte remained stable this week (June 30 - July 3, 2025) [SMM Weekly Review of Lithium Electrolyte Market]

SMM News on July 3:

This week, the price of electrolyte remained stable. The average prices of electrolytes for ternary power batteries, LFP power 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 decline of LiPF6, a core raw material for electrolytes, was relatively small, while the prices of solvents and additives remained stable, maintaining a relatively stable cost structure. On the demand side, due to the ongoing phase of inventory vehicle digestion in the NEV market, enterprises adjusted their production schedules downward, leading to a slight MoM decline in the demand for power batteries. However, the ESS market performed well, with overseas demand continuing to grow. Considering both markets, the overall demand growth was relatively small. On the supply side, electrolyte enterprises continued to deepen their "produce based on sales" operational model. Limited by the issue of structural overcapacity in the industry, market competition pressure remained significant. 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