9月动力电池出口同增50%，6F价格继续上涨

Core Insights - The report maintains a positive outlook on the industry, highlighting a 50% year-on-year increase in battery exports in September and a continued rise in the price of hexafluorophosphate lithium [1][3] Market Review - The Shanghai Composite Index fell by 1.47% this week, while the solid-state battery index dropped by 5.04%. Year-to-date, the Shanghai Composite Index has risen by 14.56%, and the solid-state battery index has increased by 46.42% [7][11] - Trading volume for the entire A-share market reached 10,964.26 billion yuan, up 110.61% week-on-week, with the solid-state battery index trading volume at 405.917 billion yuan, up 57.31% [7][11] Price Tracking in the Supply Chain - As of October 17, lithium carbonate (99.5% battery grade) is priced at 73,400 yuan per ton, down 120 yuan from the previous week. The price of lithium iron phosphate is 33,400 yuan per ton, down 900 yuan, while ternary material (523) has increased by 13.6 yuan per kilogram to 135.93 yuan [12][21] - The price of hexafluorophosphate lithium has risen to 79,000 yuan per ton, up 1,150 yuan from last week, and the average price of graphite electrodes remains stable at 12,500 yuan per ton [12][21] Industry News & Company Announcements - Since mid-September, the price of hexafluorophosphate lithium has surged, breaking its previous plateau. Prices increased from 56,000 yuan per ton on September 16 to 68,000 yuan per ton by October 13, with some quotes reaching 73,000 yuan per ton [28][29] - The Democratic Republic of Congo's cobalt export quota system took effect on October 16, which is expected to impact the global cobalt trade and the lithium battery supply chain [29] Battery Demand Tracking - In the first nine months of 2025, the production of power and other batteries reached 1,121.9 GWh, a year-on-year increase of 51.4%. In September alone, production was 151.2 GWh, up 35.85% year-on-year [30][31] - The power battery installation volume for the first nine months of 2025 was 493.9 GWh, up 42.5% year-on-year, with September's installation volume at 76 GWh, an increase of 39.45% [30][31] - Power battery exports totaled 129.1 GWh in the first nine months of 2025, a year-on-year increase of 21.7%, with September exports at 17.6 GWh, up 50.43% year-on-year [30][35] Lithium Battery Equipment Sector Insights - The report indicates that solid-state battery technology continues to make breakthroughs, with several automakers planning to adopt solid-state batteries around 2027. The industry is expected to accelerate its industrialization process [3][30] - The report suggests focusing on leading lithium battery equipment companies such as Xianlead Intelligent, Yinghe Technology, and Liyuanheng, as well as companies involved in the incremental segment like Jiao Cheng Ultrasonic and Hai Moxing [3][30]