Zhong Jin Zai Xian·2025-11-04 00:24Core Viewpoint - The price of lithium hexafluorophosphate has surged significantly, reaching a peak of 117,000 yuan/ton, nearly doubling since early October, driven by increased raw material costs, capacity contraction, and strong demand [1][2][4]. Price Trends - The price of lithium hexafluorophosphate dropped to approximately 47,000 yuan/ton in July but has risen sharply since mid-September, with an average price of 113,500 yuan/ton as of November 3 [2][4]. - Companies like Shida Shenghua and Xinzhou Bang report robust demand and increasing orders, with current factory prices ranging from 110,000 to 120,000 yuan/ton [2][3]. Company Performance - Companies such as Duofluor and Shida Shenghua have seen significant improvements in performance, with Duofluor reporting over a fourfold increase in year-on-year earnings for the first three quarters of 2025 [2][4]. - Duofluor's current production capacity for lithium hexafluorophosphate is 65,000 tons, with an additional 20,000 tons under construction, aiming for a shipment target of around 50,000 tons this year [3][4]. Supply and Demand Dynamics - The price increase is attributed to a supply-demand imbalance and fluctuations in raw material prices, with the demand from the new energy and energy storage sectors surging [4][5]. - The domestic production capacity for lithium hexafluorophosphate is reported at 442,900 tons/year, with effective capacity at 389,400 tons/year, reflecting a year-on-year increase of 13.7% [4][5]. Market Outlook - Short-term price support is expected to continue, with analysts predicting that the current profitability of 30,000 to 40,000 yuan per ton may improve in the coming year [6]. - However, long-term sustainability of price increases faces challenges, including the rise of alternative products and potential oversupply from new capacity coming online [7].