From April 21 to April 24, 2025, the price of electrolyte decreased.
SMM April 24 News: This week, the prices of electrolytes decreased. The average prices of ternary, LFP, and LMO electrolytes dropped to 22,650 yuan/mt, 18,650 yuan/mt, and 14,750 yuan/mt, respectively. Cost side, the prices of core raw materials such as LiPF6, solvents, and additives all declined, leading to a reduction in the overall manufacturing cost of electrolytes. Demand side, the recovery of the downstream new energy battery market continued to fall short of expectations. Recently, affected by changes in tariff policies, market demand showed increasingly mediocre performance. End-users, considering market uncertainties, continued to adopt cautious stockpiling strategies, strictly controlling inventory levels, resulting in low market activity and a lack of strong demand support. Supply side, major industry players continued to deepen the "produce based on sales" operation model, taking conservative production scheduling strategies based on cautious market demand forecasts. Meanwhile, some small and medium-sized producers, constrained by the mediocre market demand, faced insufficient orders, with operating rates remaining in the low range. Comprehensive analysis of the current electrolyte market structure indicates that, given the lack of fundamental changes in supply and demand fundamentals in the short term, there is a lack of key factors driving significant price volatility. It is expected that electrolyte prices will continue to fluctuate rangebound in the near future. SMM New Energy Research Team Cong Wang 021-51666838 Rui Ma 021-51595780 Disheng Feng 021-51666714 Ying Xu 021-51666707 Yanlin Lyu 021-20707875 Yujun Liu 021-20707895 Xiaodan Yu 021-20707870 Xianjue Sun 021-51666757 Zhicheng Zhou 021-51666711 He Zhang 021-20707850
