As the price of lithium hexafluorophosphate has risen sharply, many lithium battery manufacturers have recently signed long-term orders with raw material suppliers to lock in the supply of lithium hexafluorophosphate, which is the raw material for power battery electrolyte.
On the evening of August 2, Yongtai Technology issued an announcement that CATL will purchase lithium hexafluorophosphate, lithium bisfluorosulfonimide (LIFSI) and vinylene carbonate (VC) products from the company.
In addition to the Ningde era, BYD is also increasing its purchase of raw materials. In July of this year, BYD signed a sales contract with Fluoride to purchase lithium hexafluorophosphate with a total amount of not less than 6,460 tons. In the same period, Xintai Materials, a wholly-owned subsidiary of Skyrim, and BYD signed a long-term agreement to supply lithium hexafluorophosphate to the latter.
Industry data shows that in 2021, the total demand for lithium hexafluorophosphate industry is 65,000 tons, combined with the current market stock output, the gap is 6,000 tons; in 2022, the gap is 17,000 tons. Industry insiders pointed out that the shortage of lithium hexafluorophosphate may continue beyond 2022.
The barriers to entry for lithium hexafluorophosphate production are relatively high. Even if the industry\'s operating rate and output increase significantly, the main increase is still concentrated in leading enterprises with mature technology, high-quality products, and stable customers. At the same time, due to the high investment intensity of the lithium hexafluorophosphate project and the long production expansion period, new competitors need sufficient financial support and the ability to withstand a long return period. In addition, leading companies have a high proportion of production capacity and relatively low costs, which gives them stronger pricing power, and prices are expected to remain high in the context of tight supply and demand.
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