SMM July 9 –
This week, electrolyte market prices edged up slightly, with average prices for ternary power, LFP, and LMO electrolyte standing at 29,750 yuan/mt, 28,250 yuan/mt, and 22,150 yuan/mt, respectively. Cost side, spot lithium carbonate prices pulled back again this week, while LiPF6 prices further declined, dragged down by weakening cost support and sluggish downstream restocking and purchasing willingness. Solvent side, upstream raw material prices fluctuated relatively little recently, providing stable cost support, and solvent prices showed no notable fluctuations. The supply-demand pattern for the additive VC remained tight, with downstream demand continuing to expand, but the release of new effective supply remained slow-paced, and producers held firm intentions to raise prices. Electrolyte producers, to ensure normal order delivery, had to passively accept the price increases, driving VC and FEC prices to continue rising. Overall, the significant price increase in additives pushed up electrolyte production costs, leading to a subsequent rise in the electrolyte market price. Supply-demand side, July new orders for passenger NEVs maintained high prosperity, coupled with the continuously accelerating electrification penetration rate in commercial vehicles, these dual positives boosted steady expansion in power battery cell demand. The installation demand in the energy storage sector also maintained a steady growth trend, with the overall improving end-use demand prompting battery cell manufacturers to raise operating rates, driving up supporting demand for electrolyte and thus increasing production. Overall, the future market price trend of electrolyte still needs continuous tracking of fluctuations in its raw material prices and their transmission.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lyu Yanlin 021-20707875
Xu Mengqi 021-20707868
Hu Xuejie 021-20707858
Chen Bolin 021-51666836
Wang Yizhou 021-51595909
