In January 2024, China's electrolyte production fell 11% MoM, up 94% YoY. Affected by the Chinese New Year holiday, the growth rate of end-use market demand slowed down, leading to an overall decline in demand. The operating rate of electrolyte factories decreased slightly compared to the previous month. With the price of LiPF6 remaining stable and additive prices rising to some extent, some electrolyte enterprises chose to wait and observe until raw material prices stabilized. Most orders were producing based on orders, with raw materials stocked up before the holiday. Meanwhile, the operating rate of battery cell enterprises declined compared to December, prompting electrolyte factories to moderately reduce their operating rates in response to market demand, resulting in a drop in production.
Looking ahead to February, end-use demand is expected to continue declining, and electrolyte demand is also expected to decrease to some extent. China's electrolyte production in February is expected to fall by approximately 6% MoM, up about 127% YoY.
Note: For any additional details or corrections regarding the content mentioned in this article, please feel free to contact us at the following:
Phone: 021-20707842 (or add WeChat as below) Ren Xiaoxuan, thank you!
SMM New Energy Research Team
Cong Wang 021-51666838
Lingying Zhang 021-51666775
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Ying Xu 021-51666707
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Xianjue Sun 021-51666757
Ye Yuan 021-51595792
Chensi Lin 021-51666836
Zhicheng Zhou 021-51666711
