SMM

In October 2024, China's electrolyte production was up 8.6% MoM and up 67% YoY. Demand in the end-use market increased, leading to an overall rise in demand. The operating rate of electrolyte factories significantly improved compared to the previous month. Due to a slight increase in LiPF6 prices, some electrolyte enterprises chose to wait and see until raw material prices stabilized, resulting in a weak willingness to stockpile raw materials, with most orders being produced and sold on demand. Meanwhile, the operating rate of battery cell enterprises significantly increased compared to September, prompting electrolyte factories to moderately raise their operating rates based on market demand, thus boosting production.

In October, due to the price increase of anhydrous hydrogen fluoride and lithium fluoride, the price of LiPF6 was also adjusted. This price change gradually transmitted to the electrolyte end-use, causing a slight upward trend in electrolyte prices.

Looking ahead to November, end-use demand is expected to continue rising, further boosting electrolyte demand. China's electrolyte production in November is expected to be up about 6.4% MoM and up about 88% YoY.