SMM, September 24:
Electrolyte market prices rose this week. The average prices of electrolyte for ternary power batteries, LFP batteries, and LMO batteries were 33,250 yuan/mt, 32,650 yuan/mt, and 24,850 yuan/mt, respectively. Cost side, LiPF6 prices edged up this week. Although its raw material lithium carbonate prices pulled back overall, weakening cost support, producers still maintained some willingness to raise prices based on expectations for downstream demand, coupled with limited new production and low inventory, driving market prices slightly higher. Additive VC remained stable at high levels. Current market prices and profits are both at relatively high levels, and enterprises, considering long-term operations, have weak willingness to raise prices; meanwhile, overall supply growth is limited, and demand performance remains good, so the tight supply-demand situation persists, providing strong price support, and prices remained stable for the time being. Some solvent prices pulled back this week. Affected by the pullback in crude oil prices, prices of solvent raw materials such as propylene oxide pulled back, and outside China acceptance of high-priced industrial-grade DMC was weak, forcing industrial-grade DMC prices down, which dragged down prices of battery-grade solvents such as battery-grade EMC, though they remained above the prices negotiated at the beginning of the month. Overall, electrolyte raw material costs continued to rise and gradually passed through to prices, with electrolyte prices edging up. Looking ahead, electrolyte enterprises produce based on sales, and production will continue to adjust in line with subsequent demand changes. Future price trends still require continuous tracking of raw material price changes and the progress of their transmission downstream.
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
