Prices of lithium hexafluorophosphate, a core raw material for electrolytic solution, have surged nearly 100 percent from the beginning of this year to date, due to rising demand for the power lithium battery.
The lithium hexafluorophosphate is quoted at 150,000 yuan/metric ton (tonne) and the battery-level lithium carbonate is quoted between 78,000 yuan/tonne and 82,000 yuan/tonne. Thanks to the rapid growth in sales of the new energy vehicles, power lithium battery enterprises in China have increased investments by nearly 100 billion yuan this year.
Under the circumstances of the gradual release of the capacity next year, their demand for the core raw material, lithium hexafluorophosphate, will further increase. Some industry insiders expected prices of the lithium hexafluorophosphate to approach 200,000 yuan/tonne at the end of the year.
China's output of new energy vehicles soared nearly 800 percent year on year in October to 50,700 units. The country produced a total of 206,900 new energy vehicles from January to October, up 300 percent over the same period of last year, according to the Ministry of Industry and Information Technology (MIIT).
Latest comments