According to the Commodity Market Analysis System of Shengyi Society, on November 10th, the price of lithium carbonate increased significantly. The benchmark price of battery grade lithium carbonate was 83200 yuan/ton, up 4.92% from the previous day, and the benchmark price of industrial grade lithium carbonate was 81433 yuan/ton, up 5.03% from the previous day.
Explosive demand side: Strong driving force in the battery and energy storage fields
The concentrated outbreak of demand for downstream new energy vehicles and energy storage industries is the core driving force behind this price increase. Since 2025, the prices of the midstream industry chain of new energy vehicles have gradually stabilized and the supply and demand structure has improved, and a new upward cycle is expected to start. At the same time, the demand growth potential in the energy storage field is enormous, and the growth rate of energy storage demand is expected to reach 50% by 2026.
The rapid growth of demand has directly driven the purchasing enthusiasm of the upstream and downstream of the lithium battery industry chain. Electrolyte manufacturers have significantly increased their procurement of raw materials such as lithium carbonate to meet production needs, forming strong demand support and driving up prices.
Supply side tension: lithium mine resumption falls short of expectations, exacerbating the gap
The tight situation on the supply side has further amplified the price increase, with the key factor being the slower than expected resumption of production at Jiangxi Jianxiawo Lithium Mine. The lithium assessment report results were lower than expected and the relevant approvals have not yet been implemented. The delay in resuming production has significantly increased the market’s expectation of tight supply of lithium carbonate.
Industrial chain transmission: the linkage effect of the skyrocketing price of lithium hexafluorophosphate
The significant increase in prices of products related to the lithium battery industry chain has formed a linkage effect, further driving up the price of lithium carbonate. The price of lithium hexafluorophosphate has risen by as much as 99% in just over a month, reaching a recent high. The core driving force behind the significant increase in the price of lithium hexafluorophosphate is the explosive demand for downstream new energy vehicles and energy storage industries, which has led to a significant increase in the purchasing volume of electrolyte manufacturers.
As a key raw material for lithium battery electrolytes, the skyrocketing price of lithium hexafluorophosphate reflects the strong demand for downstream lithium battery production, which is transmitted to the upstream lithium carbonate link, further strengthening the market demand expectation for lithium carbonate and causing the price to skyrocket.
Business Society’s lithium carbonate data analyst believes that against the backdrop of favorable factors on both the supply and demand sides and a linked rise in industry chain prices, lithium carbonate prices have skyrocketed, and it is expected that lithium carbonate prices will maintain a strong trend in the short term.

According to the monitoring of the commodity market analysis system of Shengyi Society, the price of activated carbon at the beginning of the week was 12600 yuan/ton, and the price of activated carbon at the end of the week was 12633/ton, with a price increase of 0.26%.
Domestic coconut shell activated carbon manufacturers’ prices have risen this week, with the ex factory price of activated carbon for coconut shell water purification in East China ranging from 9500 to 13000 yuan/ton. Coconut shell activated carbon is in high demand in water treatment, air purification, sodium ion batteries, and other fields, supporting the price increase. In addition, the high transportation requirements for coconut shell carbonized materials, as well as cost factors such as packaging, insurance, and port operations, support the high price of activated carbon.
The price fluctuations of wooden and bamboo activated carbon are relatively small, while physical method wooden and bamboo carbon are supported by costs, and factory quotations are mainly stable. The main coconut producing countries in Southeast Asia are affected by natural disasters, policy adjustments, and other factors, resulting in a shortage of raw material supply. Although some countries have plans to expand production, the tight supply situation is difficult to change in the short term, and prices will still remain high. ‌‌
Prediction: There is a shortage of coconut shell activated carbon raw materials in China, and it is expected that the price of activated carbon will mainly fluctuate at a high level in the short term.

The price of anhydrous hydrogen fluoride in the domestic market has remained stable this week. According to the analysis system of Shengyi Society, as of November 6th, the benchmark price of hydrofluoric acid in Shengyi Society was 12533.33 yuan/ton, which remained stable compared to the beginning of the month.
On the raw material side, the price trend of domestic fluorite has declined, and the support on the cost side has weakened. As of November 6th, the benchmark price of fluorite in Shengyi Society was 3518.75 yuan/ton, a decrease of 0.53% compared to the beginning of this month (3537.50 yuan/ton).
Demand side: Downstream demand side encounters traditional off-season, weak demand, insufficient overall consumption capacity, and mainly relies on on-demand procurement. Maintain a wait-and-see attitude and have low purchasing enthusiasm. Overall, the demand side has weak support for hydrogen fluoride, and it is expected that the hydrogen fluoride market will mainly operate weakly and steadily in the later stage.
Market forecast: The price of raw material fluorite will decrease, and cost support will weaken. In addition, downstream demand will be weak due to the traditional off-season, and rigid demand will be the main focus. Overall, downstream consumption capacity is insufficient. It is expected that the anhydrous hydrogen fluoride market will mainly operate weakly and steadily in the later stage. More attention should be paid to changes in market supply and demand.

According to the Commodity Market Analysis System of Shengyi Society, multiple negative factors remained in early November, and the domestic adipic acid market declined. On November 1st, the average market price of adipic acid was 6966 yuan/ton. On November 5th, the average market price of adipic acid in China was 6933 yuan/ton, a decrease of 0.48%.
Negative pressure, domestic adipic acid market declines
At the beginning of November, the market for cyclohexanone, a raw material for adipic acid, and pure benzene raw materials was weak. The demand for terminal rigidity is poor, and the transaction volume in the adipic acid market is average. The ex factory price of manufacturers has fallen, and the adipic acid market continues to weaken. As of November 5th, the mainstream market price in Shandong is around 6900 yuan/ton, and the mainstream market price in Jiangsu is 6700 yuan/ton. The average price in the domestic market has dropped to 6900 yuan/ton, a decrease of 100 yuan/ton.
An analyst from Shengyi Society believes that in mid November, the rigid demand in the terminal industry declined, the raw material market weakened, and the adipic acid market showed weak upward momentum in the future.

According to the commodity analysis system of Shengyi Society, in early November, the hydrogen peroxide market fell and prices went down. On November 1st, the average market price of hydrogen peroxide was 930 yuan/ton, and on November 4th, the average market price of hydrogen peroxide was 896 yuan/ton, a decrease of 3.58% in price.
Negative pressure suppresses the downward trend of hydrogen peroxide market
At the beginning of November, the supply of hydrogen peroxide increased, terminal demand weakened, and negative factors compounded, causing the hydrogen peroxide market to gradually decline and prices to fall. The average price of hydrogen peroxide in the Shandong region is 850-900 yuan/ton, with a price drop of 50 yuan/ton. The average price of hydrogen peroxide in the Anhui region is around 870 yuan/ton. As of November 4th, the average price of hydrogen peroxide in the domestic market has dropped to around 890 yuan/ton, with an overall decrease of 50 yuan/ton.
The hydrogen peroxide analyst from Shengyi Society believes that in mid November, the demand for terminal printing and papermaking industry is average, and the pressure on hydrogen peroxide supply is still present. The market will continue to operate weakly in the future.