[Electrolyte prices fell from July 7 to July 10] This week, electrolyte prices declined. Cost side, the price of LiPF6, a core raw material for electrolytes, fell, while the prices of solvents and additives remained stable, leading to a decrease in the overall manufacturing cost of electrolytes. Demand side, in the power battery market, due to high inventory pressure, the market was in a phase of destocking vehicles, and automakers' production enthusiasm was weak, resulting in a slight MoM decline in power battery demand. In the ESS market, overseas ESS demand showed a growth trend. Overall, the total demand increased slightly. Supply side, electrolyte companies continued to deepen the "produce based on sales" operational model. Although the current market price of electrolytes remains low, constrained by the industry's structural overcapacity, market competition pressure is significant, and many companies are still willing to offer volume discounts. Considering multiple factors, it is expected that the subsequent price of electrolytes will maintain a fluctuating rangebound trend.