Electrolyte Prices Remained Stable This Week (2026.6.1-6.4) [SMM Lithium Battery Electrolyte Market Weekly Review]

SMM June 4 update:

Electrolyte market prices remained stable this week. The average prices of electrolyte for ternary power, LFP, and LMO applications were 29,350 yuan/mt, 27,600 yuan/mt, and 21,900 yuan/mt, respectively. Cost side, although LiPF6 had previously undergone a round of destocking that somewhat tightened supply-demand conditions, supply was still sufficient to sustain production. Meanwhile, the recent continued decline in lithium carbonate prices drove LiPF6 raw material costs to pull back slightly. Combined with the sluggish cost pass-through from electrolyte enterprises to downstream battery cell segments, electrolyte producers were under pressure with weak purchase willingness. Multiple factors collectively pushed LiPF6 prices downward. In terms of order structure, long-term agreement and monthly-priced procurement orders of electrolyte enterprises were barely affected by this round of price cuts. Although some orders saw electrolyte enterprises purchasing LiPF6 at market spot order prices, they had previously been unable to fully pass through the cost increases downstream. Therefore, this round of slight LiPF6 pullback has not yet impacted electrolyte prices. Demand side, new energy auto sales improved MoM, and the launch of new car models was expected to boost power battery cell production. Although the ESS sector saw concentrated grid connection stockpiling largely concluded, potentially slowing demand growth, medium and long-term demand remained robust, jointly supporting a steady rise in electrolyte demand. Downstream electrolyte enterprises adhered to the produce based on sales model, and production was expected to rise steadily. In summary, against the backdrop of previously sluggish cost pass-through, even with a slight edge down in upstream raw material costs, electrolyte prices were expected to remain stable in the short term.

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