Lithium hexafluorophosphate market is hot

Since the beginning of this year, under the background of booming sales of new energy vehicles, the market for lithium hexafluorophosphate, the core material of lithium battery electrolyte, has been extremely hot.
The price has risen from 100,000 yuan (ton price, the same below) at the beginning of the year to about 400,000 yuan
.

Affected by this, the recent performance of the lithium battery sector in the Shanghai and Shenzhen stock markets has been particularly eye-catching

Regarding the future trend of the lithium hexafluorophosphate market, industry insiders believe that the lithium hexafluorophosphate industry will continue to be prosperous because the supply and demand pattern is difficult to improve for a while
.

"Long order" lock-up becomes the norm

"Long order" lock-up becomes the norm, "Long order" lock-up becomes the norm

"It's definitely not possible.
Now it's not entirely a matter of price.
You can't buy goods even with money
.

" On August 4, the operation director of a power battery company in Pingshan, Shenzhen said helplessly

In order to ensure the supply of raw materials, leading companies are also trying their best
.

Recently, Ningde Times and Yongtai Technology signed the "Material Purchase Agreement", stipulating that Ningde Times will purchase lithium hexafluorophosphate and lithium bisfluorosulfonimide products from Yongtai Technology

In addition, in May of this year, CATL also signed a contract with Fujian Ningde Kaixin Battery Material Co.
, Ltd.
to supply CATL with a corresponding amount of 15,000 tons of lithium hexafluorophosphate electrolyte products within two years
.

　　It is understood that Xintai Materials, a subsidiary of Skyrim, has signed a long-term order for lithium hexafluorophosphate with BYD, and the orders for polyfluoride are far exceeding the existing capacity.
What is more surprising is the battery-grade lithium phosphate project built by the listed company Jin Yinhe Although it has not been officially put into production, the company's share price has risen by more than 50% under the recent popularity of lithium batteries
.

　　Right now, the lithium hexafluorophosphate market is "grabbing", and many leading companies have adopted "long orders" to ensure supply
.

Affected by this, the lithium battery index in the securities market has risen 54% this year, and the share prices of many listed companies in the industry chain, such as Duofuduo, have reached new highs

　　Supply and demand have been severely out of balance

　Supply and demand have been severely out of balance　supply and demand have been severely out of balance

　　Lithium hexafluorophosphate is the most important solute in the electrolyte of lithium batteries, and is the most widely used electrolyte solute in commercial applications, accounting for about 40% of the electrolyte cost
.

In the first half of the year, the demand for new energy vehicles in the domestic and European markets increased, which drove the growth of power battery shipments

　　From the perspective of supply, China's lithium hexafluorophosphate first relied on imports, and polyfluoride was mostly the first domestic listed company to officially produce lithium hexafluorophosphate
.

In recent years, with the rapid expansion of China's lithium hexafluorophosphate production capacity, import dependence has declined significantly, and it has become the largest producer of lithium hexafluorophosphate

　　Data show that China's lithium hexafluorophosphate production has increased in the first half of this year, reaching 21,300 tons, which is close to the full-year output of 2019, and an increase of 134% compared with the same period in 2020
.

　　However, the huge increase in output is still unable to meet the demand of the downstream market.
The popularity of "long orders" shows the tightness of market supply
.

According to a research report by a brokerage firm, from the recent long-term orders for lithium hexafluorophosphate announced by various companies, the production capacity of lithium hexafluorophosphate on the market has been locked in a large amount, accounting for more than 70% of the total domestic production of lithium hexafluorophosphate

　　Prices remain high

　Prices remain high　prices remain high

　　In recent years, the overall sales of new energy vehicles in China have shown an increasing trend
.

In 2020, despite the impact of the new crown pneumonia epidemic, the production and sales of new energy vehicles still achieved 9.

　　Everbright Securities analyst Wang Zhaohua pointed out that the production barriers of lithium hexafluorophosphate are relatively high.
Even if the industry's operating rate and output increase significantly, the main increase is still concentrated in leading enterprises with mature technology, high-quality products and stable customers
.
At the same time, due to the large investment in the lithium hexafluorophosphate project and the long production expansion period, new competitors need sufficient financial support and have the ability to withstand a long return period.
Therefore, the short-term lithium hexafluorophosphate production capacity will not increase significantly
.

　　In addition, the high production capacity and relatively low cost characteristics of leading companies give them stronger pricing power.
In the context of tight supply and demand, the price of lithium hexafluorophosphate is expected to remain high
.

　　According to Gaogong's estimates, the global supply and demand of lithium hexafluorophosphate will be 59 thousand tons and 63,500 tons respectively in 2021.
There will be a gap between supply and demand, and the price of lithium hexafluorophosphate may continue to rise
.