CATL's long-term order locks in lithium hexafluorophosphate
May 31,2021.
CATL's long-term order locks in lithium hexafluorophosphate
On May 28, Tinci Materials announced that Ningde Kaixin, a wholly-owned subsidiary, and Ningde Times signed the "Material Supply Framework Agreement", stipulating that Ningde Kai will be within the validity period of the agreement (from the effective date of the agreement to June 30, 2022). Xin supplied CATL with an amount of electrolyte corresponding to the expected usage of 15,000 tons of lithium hexafluorophosphate (up or down not more than 20% can be negotiated by both parties).
According to industry estimates, based on a single ton of electrolyte demand of 0.135 tons of lithium hexafluorophosphate, 15,000 tons of lithium hexafluorophosphate corresponds to about 110,000 tons of electrolyte, which can support 100±20% GWh lithium battery demand. This means that CATL's power battery capacity demand can reach 100GWh by the end of June 2022.
CATL locks in the electrolyte supply of Tinci materials and the price of lithium hexafluorophosphate through long-term orders and advance payments, which fully reflects the increase in the bargaining power of lithium hexafluorophosphate, and further reflects the current situation that downstream demand is strong and the supply of lithium hexafluorophosphate products exceeds supply.
Industry data shows that on May 19, the market price of lithium hexafluorophosphate rose again, quoting 270,000-310,000 yuan/ton. Since the beginning of this year, the domestic price of lithium hexafluorophosphate has risen from 110,000 yuan/ton to the latest 270,000 yuan/ton, an increase of over 145%, a 4-year high.
At the same time, companies including Duo Fluoride, Tianji, Jiujiu Jiu and other companies have substantially increased their lithium hexafluorophosphate quotations. For example, Tianji announced in late April that the price of lithium hexafluorophosphate products will be increased by 15%-20% based on the existing quotations.
It is expected that demand will continue to pick up in 2021, and the gap between supply and demand will widen. The wave of price increases will continue until 2022, especially when new energy vehicles enter the peak production and sales season in the second half of 2021. Prices are expected to continue to rise and continue to consolidate at a high level.
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