According to Securities Daily, lithium hexafluorophosphate prices continued their upward trend in November. On November 7, the quoted price reached 121,500 yuan per ton, marking a 13.02% increase from 107,500 yuan per ton on October 31. Compared to the price of 61,000 yuan per ton on September 30, the increase reached a staggering 99.18%.

Explosive growth in demand for energy storage batteries and power batteries has driven a significant surge in electrolyte procurement. Lithium hexafluorophosphate is the core material for lithium-ion battery electrolytes. This is the key factor propelling lithium hexafluorophosphate prices out of their trough and into a new boom cycle.

Currently, leading LFP manufacturers operate at high capacity utilization rates. From the supply side, the industry previously underwent deep adjustments due to overcapacity. Leading companies now hold competitive advantages in production costs, while numerous small and medium-sized enterprises have exited the market. Newly added capacity is unlikely to be released in the short term.

Regarding the near-term market supply-demand dynamics, LFP remains in a state of tight supply.

LFP prices are expected to remain firm in mid-to-late November and throughout December. Next year, supply is projected to maintain a tight balance, with prices likely to rise further, though fluctuations may become more rational.

Among the four key materials for lithium-ion batteries—electrolyte, cathode, anode, and separator—lithium hexafluorophosphate, the core electrolyte material, has led recent price surges.

LFP is regarded as the “barometer of the lithium battery industry.” With the sustained growth of the energy storage and new energy vehicle markets, overall demand for lithium battery materials—including cathode materials like lithium iron phosphate, anode materials, separators, and electrolyte additives—is poised for a comprehensive recovery.

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