Zhong Guo Jing Ying Bao·2025-11-08 03:08Core Viewpoint - The price of lithium hexafluorophosphate has experienced a strong rebound, rising from 61,000 yuan/ton to 121,500 yuan/ton between October 1 and November 7, marking a 99% increase within a month, driven by surging demand from the electric vehicle and energy storage industries [1][2]. Supply and Demand Dynamics - The price of lithium hexafluorophosphate is a key indicator of the lithium battery industry's health. After reaching a historical high of 590,000 yuan/ton in February 2022, prices fell to below 50,000 yuan/ton by July 2023, before rapidly increasing in October [2]. - Demand has surged due to the growth in the electric vehicle and energy storage sectors, leading to a significant increase in procurement by electrolyte manufacturers. On the supply side, many small and medium-sized enterprises are struggling to resume production due to previous overcapacity and equipment aging, resulting in a tight overall supply [2][3]. Market Outlook - Analysts expect the lithium hexafluorophosphate market to remain strong in November, with price movements dependent on supply-demand dynamics and potential shifts in downstream demand [3]. - In 2024, domestic effective production capacity for lithium hexafluorophosphate is projected to be around 370,000 tons per year, with major companies like Tianqi Materials, Dufluor, and Tianji holding over 66% market share [3]. Stock Market Response - The strong rebound in lithium hexafluorophosphate prices has positively impacted the stock market, with companies like Dufluor seeing a 10.01% increase in stock price on November 7, reaching 32.10 yuan/share, and a total market capitalization of 38.213 billion yuan [4]. - Despite a risk warning issued by Dufluor regarding stock price fluctuations, market sentiment remains bullish due to expectations of product price increases and improved performance [4]. - Research reports from brokerage firms have been optimistic, with Everbright Securities maintaining a "buy" rating for Dufluor, while Huatai Securities has given a "buy" rating to Tianqi Materials, anticipating a net profit of 1.061 billion yuan by 2025 [4].