DT新材料·2025-11-02 14:42Core Viewpoint - The price of lithium hexafluorophosphate has surged dramatically in October, with a notable increase of over 120% from its low in July, indicating a strong demand and supply imbalance in the lithium battery materials market [2][3][4]. Price Trends - Lithium hexafluorophosphate prices rose from 49,800 CNY/ton on July 18 to 106,300 CNY/ton on October 30, and further to 110,800 CNY/ton by October 31 [2]. - The price fluctuations have been described as "crazy," with daily price changes observed [2]. Market Demand and Supply - The demand for lithium hexafluorophosphate is driven by the explosive growth in the new energy and energy storage sectors, alongside cautious capacity expansion from suppliers [3][4]. - The market is expected to remain in a tight supply-demand balance until 2026, with prices likely to continue rising [3]. Company Insights - Leading companies in the lithium hexafluorophosphate sector are operating at full capacity, with optimistic forecasts for demand in Q1 of the following year [3][4]. - Companies are reluctant to sign long-term contracts unless prepayments are made, reflecting the current market dynamics [4]. Production Capacity - Major players like Tianji and Duofluor have reported low inventory levels and high production rates, with Tianji expecting a shipment volume of 35,000 to 38,000 tons for the year [5][6]. - The industry is witnessing a trend of cautious capacity expansion, with smaller firms lacking the confidence to increase production [5][6]. Financial Performance - The third-quarter financial results for leading companies show significant improvements, with Tianqi Materials reporting a 52% increase in net profit year-on-year, and Duofluor returning to profitability [6]. - The overall market environment has shifted positively after years of low capital expenditure, leading to tighter supply conditions for various battery materials [6].