SMM August 7 News:
This week, electrolyte prices remained stable. The average prices of electrolytes for ternary power batteries, LFP batteries, and LMO batteries were 21,700 yuan/mt, 17,750 yuan/mt, and 14,450 yuan/mt, respectively. Cost side, the overall price of LiPF6, a core raw material for electrolytes, declined, while the prices of some solvents and additives increased, keeping the overall manufacturing cost of electrolytes relatively stable. Demand side, driven by the approaching September-October peak season in the NEV market, production enthusiasm continued to rise, boosting the demand for power batteries. Meanwhile, the sustained release of ESS demand collectively contributed to a slight increase in overall battery demand. Supply side, electrolyte enterprises continued to adopt the operational strategy of "produce based on sales." Although electrolyte prices had fallen to historically low levels, amid the backdrop of structural overcapacity in the industry, some enterprises had to resort to "volume discount" to maintain market share. Considering multiple factors, the oversupply situation in the electrolyte market in the short term remains difficult to reverse, lacking significant support for a price rebound. However, influenced by the price increases of some raw materials, it is expected that subsequent market prices will remain stable or even increase slightly.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lv Yanlin 021-20707875
Zhou Zhicheng 021-51666711
Xu Mengqi 021-20707868
Hu Xuejie 021-20707858
