SMM

In November 2024, China's electrolyte production rose 9% MoM and up 93% YoY. The growth rate of end-use market demand 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 rise in the price of LiPF6, some electrolyte enterprises chose to wait and see, expecting raw material prices to stabilize. Consequently, their willingness to stockpile raw materials was not strong, and most orders were produced based on orders. Meanwhile, the operating rate of battery cell enterprises significantly increased compared to October, prompting electrolyte factories to moderately raise their operating rates according to market demand, resulting in increased production.

In November, the price of LiPF6 rose slightly. This price change gradually transmitted to the electrolyte end-use market, causing a slight increase in electrolyte prices.

Looking ahead to December, end-use demand is expected to decline slightly, leading to a certain decrease in electrolyte demand. China's electrolyte production in December is expected to decrease by approximately 2% MoM, while increasing by about 130% YoY.