Electrolyte Prices Edged Up This Week (2026.5.25-5.28) [SMM Lithium Battery Electrolyte Market Weekly Review]

Published: May 28, 2026 14:36

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[SMM Lithium Battery Electrolyte Market Weekly Review: Electrolyte Prices Edged Up This Week (2026.5.25-5.28)] From May 25 to May 28, 2026, electrolyte prices edged up. As raw material price increases were gradually and smoothly transmitted to downstream sectors, electrolyte prices are still expected to have room to rise in the future market.

SMM May 28:

Electrolyte market prices edged up this week. Specifically, the average prices of electrolyte for ternary power battery, LFP, and LMO were 29,350 yuan/mt, 27,600 yuan/mt, and 21,900 yuan/mt, respectively. Cost side, LiPF6 has entered a new round of order negotiation phase. Although lithium carbonate experienced short-term fluctuations and pulled back due to news-driven disruptions, prices remained in a high range. Combined with anhydrous hydrogen fluoride and phosphorus pentachloride prices staying firm at high levels supported by upstream raw materials, the overall cost of LiPF6 rose notably compared with the previous period. Meanwhile, the industry continued destocking in the earlier period, and the supply-demand pattern kept tightening. Multiple factors drove LiPF6 prices to rise. Although solvent prices pulled back slightly recently, overall fluctuations were limited, pushing up the overall cost of electrolyte. Despite multiple factors, cost pressure on electrolyte has not yet been fully passed through to downstream, but the rise in raw material costs has already driven a slight raise in electrolyte prices. Demand side, NEV sales recovered MoM, boosting power battery demand. Additionally, the energy storage industry approached the grid connection deadline (June 30), with orders continuing to be released. Both sectors jointly drove electrolyte production higher. Overall, upstream raw material cost increases were gradually transmitted downstream, driving electrolyte prices higher. Going forward, as costs are further passed through and end-use demand steadily improves, electrolyte prices still have upside room.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

Chen Bolin 021-51666836

Wang Yizhou 021-51595909

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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