In March, China's electrolyte production was 95,780 tons, a month-on-month increase of 62.2% and a year-on-year increase of 32.1%. The market is gradually warming up, and electrolyte plants are increasing their operating rates. On the demand side, due to the rise in raw material prices, electrolyte companies are currently maintaining a trend of production based on sales, but demand for electrolyte from cell makers is gradually increasing, leading to a significant increase in electrolyte demand compared to February. On the supply side, cell makers are increasing their operating rates, and electrolyte plants are also increasing their production to meet market demand.
In April, with the rise in lithium carbonate prices, the core raw material for electrolytes, lithium hexafluorophosphate, is currently maintaining a high level above 70,000 yuan. However, it takes some time for price increases in lithium hexafluorophosphate to be transmitted to the electrolyte end, and negotiations between upstream and downstream are currently at a standstill. As a result, electrolyte prices are stable for now. In April, demand increased and downstream demand for electrolytes steadily rose. It is expected that China's electrolyte production in April will be 106,870 tons, an increase of approximately 11.6% compared to the previous month and a year-on-year increase of approximately 38.8%.
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