Lithium hexafluorophosphate capacity tends to saturation

Due to the good Ionic conductivity and electrochemical stability, lithium hexafluorophosphate has become the core material for the production of lithium cell electrolytes. Starting from the second half of 2015, benefiting from the rapid growth of the domestic new energy automotive industry, the market's demand for electrolytes, one of the four major materials for powered lithium batteries, has soared and driven its price to rise rapidly.

After the price has stabilized relatively, the city still has the possibility of adjustment.

It is understood that before 2004, Japan's Rising Chemical, Morita Chemical, and Kanto Electrochemical monopolized the global lithium hexafluorophosphate industry. At that time, the price of lithium hexafluorophosphate was more than 600,000 yuan/ton. Since 2011, a number of companies represented by polyfluorophosphate in China have successfully broken through the production process of lithium hexafluorophosphate and entered the supply chain of domestic electrolytic fluid companies, prompting the price of lithium hexafluorophosphate to gradually fall. The price in 2012 was 250,000 yuan. / ton. After 2013, excess capacity of lithium hexafluorophosphate occurred, reaching a low of 84,000 yuan/ton by the second quarter of 2015.

Since then, benefiting from the domestic production and sales of new energy vehicles, the prices of materials related to power batteries have risen sharply. The price of lithium hexafluorophosphate, a raw material for lithium cell electrolytes, has skyrocketed since the second half of 2015, rising to 400,000 yuan/ton in just a few months.

In 2016, with the expansion of domestic lithium hexafluorophosphate enterprises, the price of lithium hexafluorophosphate has relatively stabilized. According to the latest data released by the China Chemical and Physical Power Industry Association, the recent price of lithium hexafluorophosphate is about 385,000 yuan per ton, and the price is stable.

According to the latest research report of anxin securities, due to the overhaul of the production line, the supply of lithium hexafluorophosphate in Japan has been 20 % -30 % gap in the short term, which also provides a certain space for Chinese enterprises to seize the market and negotiate prices. At present, most electrolyte manufacturers also stated that they are optimistic about the demand brought about by the outbreak of the new energy car market in the second half of the year. It is expected that the market will still increase after lithium hexafluorophosphate.

New capacity is about to be released or buried potential overcapacity

Due to the surge in demand for lithium hexafluorophosphate in the downstream market, coupled with the benefit incentives brought about by the sharp increase in product prices in 2015, it has attracted a number of mainstream companies to start production expansion plans.

Polyfluorides currently has a capacity of 3,000 tons of lithium hexafluorophosphate. After technological transformation, it is expected that the company's newly expanded 3,000 tons of projects in the first quarter of 2017 can be completed and put into production. By then, the annual production capacity of polyfluorides in lithium hexafluorophosphate will reach 6,000 tons.

Tianci's production capacity of lithium hexafluorophosphate reached 2,000 tons in 2015, and the company plans to expand production from the end of 2015. It is expected that by the end of 2016, the company's new production line of 6,000 tons of liquid lithium hexafluorophosphate(equivalent to 2,000 tons of solid lithium hexafluorophosphate) will be completed and put into production. The production capacity of solid lithium hexafluorophosphate with an annual output of 2,000 tons will be put into production in mid-2017 when the total capacity of Tianci material lithium hexafluorophosphate will reach 6,000 tons.

Bikang SHARES has an existing production capacity of 2,000 tons of lithium hexafluorophosphate, and another additional expansion project with an annual output of 3,000 tons is expected to be put into trial production by the end of 2016. By then, the production capacity of Lithium hexafluorophosphate in Bikang shares will reach 5,000 tons.

In addition, the lithium hexafluorophosphate market has attracted some new faces.

Shi Dasheng issued an announcement in December 2015 and plans to carry out the construction of the lithium hexafluorophosphate project in the first phase of 1,000 tons/year in 2016. The construction cycle is one year, and then the second phase will be selected in 2017. 4000 tons/year project construction.

Yongtai Technology announced on July 5 this year that Shaowuyong, a holding company owned by the company, intends to invest its own funds in the construction of a lithium hexafluorophosphate project with an annual output of 6,000 tons. It is expected that the annual production capacity of the first phase of the project will be completed. Up to 3,000 tons, the construction cycle is 1.5 years.

According to public data from these companies, by the end of 2017, the production capacity of lithium hexafluorophosphate will reach 18,000 tons in only four companies: Duo Duo, Tianci Materials, Pikang Shares, and Shi Da Sheng Hua. According to a research report released by China Merchants Securities in June, the estimated domestic demand for lithium hexafluorophosphate in 2017 is estimated to be 20,000 tons. Taking into account the capacity of the remaining manufacturers and some import capacity, lithium hexafluorophosphate is very likely to have the excess capacity by the end of 2017.

Market competition intensifies positive downstream industries

Battery China Network believes that in view of the fact that the results of the review of new energy vehicle fraud are gradually becoming clear at this stage, the National supplement and land supplement in 2015 are expected to be issued. Under this stimulus, the outlook of the new energy vehicle-related industrial chain is expected to continue to rise in the second half of the year. Under the strong support of market demand, The price of lithium hexafluorophosphate may remain high in the short term.

In addition, according to the relevant plans of the aforementioned major manufacturers, the domestic production capacity of lithium hexafluorophosphate will be gradually released in 2017, and market supply will stabilize. However, whether excess capacity will appear in the actual market will also depend on whether there is new demand in the downstream market., Consumption of an enterprise's expansion capacity.

For battery manufacturers, the expansion of lithium hexafluorophosphate companies and the increase in market supply are ultimately a good thing. An adequate supply of "quantity" can itself intensify market competition and form a certain amount of bargaining space, to a certain extent to ease raw materials. Price pressure; On the other hand, it also helps to promote lithium hexafluorophosphate companies to continuously improve their technology in the market competition for the survival of the fittest, opening the market with product quality, and thus improving the quality of electrolytes and power cells.

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