Core Viewpoint - The electrolyte sector has entered a price increase phase since September, with significant price hikes observed in various materials, particularly additives like VC and FEC, driven by increasing downstream demand [1][2]. Price Trends - In early October, the price of additive VC rose from 46,500 CNY/ton to 65,500 CNY/ton, marking an increase of over 40%. The upward trend accelerated into November [2]. - As of November 12, the market price for VC reached 100,000-120,000 CNY/ton, with an average daily increase of 68%, indicating a strong seller's market and ongoing upward price pressure [4]. Supply and Demand Dynamics - The supply of VC has shifted from a tight balance to a state of shortage due to sustained increases in downstream demand. The purchasing cycle has shortened, and cash payments are now required [4]. - Despite full production capacity, industry players are unable to meet market demand, leading to a mismatch in supply and demand in the short term [4]. Historical Context - The previous price increase cycle for VC began in 2020, peaking at 475,000 CNY/ton in October 2021. Current prices have surpassed 100,000 CNY, suggesting potential for further market developments [6][7].