SMM August 21 News:
This week, electrolyte prices remained stable. The average prices for ternary, LFP, and LMO electrolytes were 21,850 yuan/mt, 17,850 yuan/mt, and 14,550 yuan/mt, respectively. Cost side, the prices of solvents and additives remained stable, and although the price of LiPF6, a key raw material for electrolytes, increased slightly, there were few actual transactions, so this cost change has not yet been reflected in the electrolyte prices. Demand side, as the September-October peak season approaches, power battery cell manufacturers are stockpiling in advance to meet the demand for orders during the peak season, driving an increase in demand; at the same time, the ESS sector, benefiting from the US extending the implementation of its reciprocal tariff policy by 90 days, continues to see a steady release of short-term demand, collectively contributing to a steady increase in overall demand. Supply side, electrolyte producers generally adopt a "produce based on sales" strategy, coupled with the current overcapacity in the industry, ensuring that market supply remains abundant, making it difficult to generate effective upward pressure on prices. Considering multiple factors, the oversupply situation in the electrolyte market is unlikely to fundamentally change in the short term, and there is a lack of core drivers to support a price increase at the supply and demand level; however, due to the impact of rising prices of some upstream raw materials, it is expected that market prices will rise slightly 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
