Electrolyte prices remained stable this week (2026.10.12-10.15) [SMM lithium battery electrolyte market weekly review]

SMM, October 15:

This week, electrolyte market prices remained stable. Average prices for ternary power, LFP, and LMO electrolytes were 33,500 yuan/mt, 32,900 yuan/mt, and 25,050 yuan/mt, respectively. On the cost side, LiPF6 prices edged down, mainly dragged by the rapid decline in lithium carbonate raw material prices, coupled with slower-than-expected market demand growth. Downstream electrolyte enterprises showed weak purchase willingness, and LiPF6 transactions were sluggish. The tight supply-demand balance for the additive VC has not yet significantly eased, and mainstream producers maintained high and stable quotes based on long-term business considerations. In the solvent segment, upstream raw material support was relatively strong, and solvent prices firmed slightly. Overall, cost pass-through in electrolytes has a lag, and previous raw material price increases have not been fully transmitted to finished products. Therefore, despite the pullback in LiPF6 prices this week, electrolyte prices remained stable in the short term. Looking ahead, energy storage demand is expected to continue improving; the EV sector, benefiting from the “October peak season” and the export rush effect driven by expectations of EU export restrictions on hybrid vehicles, has room for demand support in electrolytes. However, some October orders were already advanced to September production schedules. Although electrolyte production is expected to grow, the increase is likely to be limited, providing weak support for raw material prices. In the short term, electrolyte prices lack upward momentum and are expected to remain stable. Going forward, close attention should be paid to raw material supply-demand dynamics and price changes.

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