The lithium hexafluorophosphate market maintained a high and stable operation in September. As of September 22nd, the benchmark price of lithium hexafluorophosphate (battery grade) is 115500.00 yuan/ton, which is the same as the beginning of this month.
2、 Raw material end: The core raw materials for lithium hexafluorophosphate are lithium carbonate, anhydrous hydrogen fluoride, phosphorus pentachloride, and lithium fluoride. In the first half of the year, the average purchase price of major raw materials increased comprehensively, with lithium carbonate rising by 12%, lithium fluoride rising by 16%, anhydrous hydrogen fluoride rising by 18%, and phosphorus pentachloride rising by 19%. Although the spot price of lithium carbonate fluctuated weakly in September and the cost center shifted downwards, the prices of lithium fluoride and anhydrous hydrogen fluoride remained high, providing strong cost support for lithium hexafluorophosphate. As of September 22, the benchmark price of lithium carbonate (battery grade) was 134000.00 yuan/ton, a decrease of 14.1% compared to the beginning of this month (156000.00 yuan/ton).
3、 Supply side: The capacity utilization rate of leading enterprises has basically reached full capacity. The overall operating rate of the industry remains at a high level of over 90%, and the global production of lithium hexafluorophosphate is expected to reach 372000 tons in 2026, a year-on-year increase of 32%.
4、 Demand side: Downstream demand is strong, and energy storage has become the core growth engine. Driven by the trend of high-end development, the increase in single vehicle charging capacity supports the sustained growth of installed capacity for power batteries; Energy storage batteries are driven by new electricity consumption scenarios such as AI data centers, and their growth rate continues to be higher than that of power batteries, becoming the core incremental source of electrolyte demand. Downstream electrolyte companies have full orders and production schedules continue to increase month on month, providing strong support for the demand for lithium hexafluorophosphate.
5、 Market forecast: The short-term tight supply-demand balance pattern continues, and with the deepening of the “Golden September and Silver October” peak season, it is expected that prices will maintain a strong operation; If the newly added production capacity in the fourth quarter is released as scheduled, the increase may be suppressed to a certain extent, and the overall trend is expected to show the characteristics of “tight supply and demand, and rational price operation”.
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