SMM reported on August 14:
This week, electrolyte prices remained stable. The average prices of electrolytes for ternary power batteries, LFP batteries, and LMO batteries were 21,850 yuan/mt, 17,850 yuan/mt, and 14,550 yuan/mt, respectively. Cost side, the prices of solvents and additives remained stable. Although the price of LiPF6, a core raw material for electrolytes, had risen, actual transactions were scarce. Therefore, this cost change had not yet been passed on to the electrolyte prices. Demand side, as the peak consumption season approached, the production enthusiasm of enterprises in the NEV market increased, driving the growth in demand for power batteries. Meanwhile, in the ESS sector, due to the 90-day extension of the US's reciprocal tariff increase policy, demand continued to be released, jointly contributing to the growth in demand. Supply side, electrolyte enterprises continued to adopt the strategy of "produce based on sales." Despite the current historical low price range of electrolytes, affected by industry overcapacity, some enterprises chose the "volume discount" approach to maintain their market share. Based on a comprehensive analysis of multiple factors, it is difficult to change the oversupply situation in the electrolyte market in the short term, and there is a lack of support points for price increases at the supply and demand level. However, driven by the price increases of some raw materials, it is expected that subsequent market prices will remain stable or even rise 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
