SMM May 21 News:
Electrolyte market prices remained stable this week. Specifically, the average prices for ternary NEV-use, LFP-use, and LMO-use electrolytes were 28,950 yuan/mt, 27,200 yuan/mt, and 21,500 yuan/mt, respectively. Cost side, the overall price fluctuations of electrolyte solvents and additives were relatively small recently, while the core raw material LiPF6 showed strong performance. On one hand, production costs rose steadily, driven by the sustained price increases of upstream raw materials such as anhydrous hydrogen fluoride and lithium carbonate in the earlier period. On the other hand, the industry was previously in a destocking cycle, and the market supply-demand pattern gradually tightened. Multiple favorable factors drove LiPF6 prices to surge significantly. However, after the current raw material price increases, overall market trading volume was low, and cost pass-through still requires a certain time lag. Therefore, the LiPF6 price increase has not yet notably driven electrolyte prices, which remained stable. In terms of the overall supply-demand pattern, the electrolyte industry generally maintained production schedules based on demand. In the ESS sector, driven by the mid-year 630 concentrated grid connection installation rush, downstream installation demand saw concentrated release, which in turn transmitted upstream and lifted electrolyte production. Overall, due to a certain lag in upstream raw material cost pass-through, electrolyte market prices are highly likely to maintain stable operation in the short term. As raw material price increases gradually pass through to downstream smoothly, coupled with steady recovery in end-use demand providing support, electrolyte prices are expected to rise with upside potential in the future market.
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
