两大工厂停产 VC涨价已超200%

Core Viewpoint - The lithium battery industry is entering a new cycle characterized by a dual resonance of demand structure upgrades and supply-side optimization, leading to a new round of price and volume increases across various segments [2]. Group 1: Market Dynamics - The market for VC (Vinyl Carbonate) is currently experiencing significant price volatility, with prices reaching over 155,000 yuan/ton, a more than 200% increase from the historical low of approximately 46,300 yuan/ton in early September 2025 [2]. - Recent production halts by major manufacturers, Shandong Genyuan and Zhejiang Yipu, have exacerbated the supply-demand imbalance, resulting in a price surge of 68% in a single day [3]. Group 2: Supply Chain Factors - Shandong Genyuan, a key player with a production capacity of 20,000 tons, has halted shipments due to equipment failures, while Zhejiang Yipu has also announced a complete shutdown for repairs [3]. - The overall supply of VC is constrained by slow expansion, high investment and technical barriers, and lengthy certification processes, with new capacity expected to be primarily from leading enterprises by 2026 [4]. Group 3: Demand Influences - The new expansion wave in lithium batteries is driving a surge in demand for various materials, particularly lithium carbonate, which has already entered a new price increase cycle [4]. - The energy storage market is booming, with steady demand for lithium iron phosphate (LFP) batteries, which have a higher VC additive ratio compared to nickel-cobalt-manganese (NCM) batteries [4].