China’s Battery Producers Fear the Brunt of LiPF6 Shortage, Demand to Stay Firm from EV Battery Makers
China’s battery grade materials are rallying upwards, compelling key battery companies to transfer the prices gains to end consumers. Since the start of 2021, price of lithium battery materials has increased significantly due to multiple factors affecting the Lithium value chain. The price of battery-grade Lithium Carbonate has escalated from an average price of $9920 per ton in January to more than $31500/ton recently, showing an increase of almost 220% within a single year. The price of lithium hexafluorophosphate (LiPF6) has also jumped from $17,320/ton at the beginning of the year to $88,200/ton in the first week of December, showing an increase of almost 400% in the period. This surge in LiPF6 prices is mainly due to the soaring price of lithium ore and limited local production. To combat the rising cost pressure, several battery companies in China have started considering rising their product prices. Recently, some market players in the first-tier battery companies have noti...