Tianci Meterials (002709.SZ) said on Wednesday that it will build a 2,000 metric ton (tonne)/year solid lithium hexafluorophosphate project requiring a total investment of 125.57 million yuan.
Thanks to rapid growth in the downstream new energy vehicle industry, demand for the lithium hexafluorophosphate is on a rise. In the short term, it will focus on lithium hexafluorophosphate and electrolytic solution, and constantly research and develop new lithium, solvent and additive to strengthen core competitiveness of the electrolytic solution.
In the period ahead, supplies of the lithium hexafluorophosphate will remain intense, said the Shenzhen-listed company. The project is expected to start in December this year and come on stream in June, 2017.
Earlier, the company also invested in a 6,000-tonne/year liquid lithium hexafluorophosphate project which is projected to be completed in 2016. After completion of the above projects, the company will see its solid lithium hexafluorophosphate capacity stand at about 6,000 tonnes a year, which can meet needs to produce about 48,000 tonnes of electrolytic solution annually. Meanwhile, Do-Fluoride Chemicals Corp (002407.SZ) said that its lithium hexafluorophosphate capacity will likely reach 6,000 metric tons (tonnes) by the end of 2016, after capacity expansion.
At present, the Do-Fluoride sees its annual capacity of lithium hexafluorophosphate stand at 2,200 tonnes. Its biggest customer for the lithium hexafluorophosphate is BYD (002594.SZ; 01211.HK), a leading new energy vehicle maker in China and 90 percent of the lithium hexafluorophosphate purchased by the BYD come from it, said the listed company.
The Do-Fluoride estimated that the price of the lithium hexafluorophosphate is projected to continue an uptrend and reach more than 200,000 yuan/tonne.
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