For the Quarter Ending September 2025
APAC
• In China, the Lithium Hexafluorophosphate Price Index fell by 1.31% quarter-over-quarter, reflecting subdued spot demand.
• The average Lithium Hexafluorophosphate price for the quarter was approximately USD 6663.67/MT, reflecting high inventories.
• Lithium Hexafluorophosphate Spot Price volatility eased as producers maintained output, keeping the Price Index stable.
• Lithium Hexafluorophosphate Price Forecast signals cautious upside risk as feedstock cost volatility intermittently supports prices.
• Lithium Hexafluorophosphate Production Cost Trend rose due to recent lithium carbonate and fluorite price moves.
• Lithium Hexafluorophosphate Demand Outlook stays supported by NEV and ESS production despite cautious just-in-time buying.
• High operating rates and inventory overhang keep Lithium Hexafluorophosphate supply ample, moderating Price Index gains.
• Regulatory compliance costs, trucking premiums and port congestion supported short-term upticks in the Spot Price.
Why did the price of Lithium Hexafluorophosphate change in September 2025 in APAC?
• Feedstock cost upticks, notably lithium carbonate and fluorite, increased conversion expenses for Lithium Hexafluorophosphate producers.
• Sustained high plant utilisation and battery-cell offtake tightened availability, supporting Lithium Hexafluorophosphate Price Index gains.
• Elevated inventories and muted export demand constrained restocking, keeping Lithium Hexafluorophosphate Spot Price under pressure.
North America
• Lithium Hexafluorophosphate Spot Price in North America remained volatile through Q3 2025, with a slight decline in September due to easing feedstock costs and cautious procurement from battery manufacturers.
• The Price Index showed moderate gains in July and August, driven by strong demand from electric vehicles and energy storage systems, but softened in September amid inventory saturation.
• Key downstream uses of Lithium Hexafluorophosphate include electrolyte salts in lithium-ion batteries, especially for EVs, portable electronics, and industrial energy storage systems.
• The Lithium Hexafluorophosphate Production Cost Trend eased in September due to lower phosphorus pentachloride and hydrofluoric acid prices, improving margins for producers.
• The Lithium Hexafluorophosphate Demand Outlook remains optimistic, supported by federal incentives for EV adoption and expanding battery manufacturing capacity across the U.S. and Canada.
• The Lithium Hexafluorophosphate Price Forecast for Q4 2025 suggests a rebound, with expected restocking and seasonal demand recovery from battery OEMs.
Why did the price of Lithium Hexafluorophosphate change in September 2025 in North America?
• Lower prices for phosphorus pentachloride and hydrofluoric acid reduced production expenses, contributing to a softer Lithium Hexafluorophosphate Spot Price.
• Inventory Saturation: Battery manufacturers slowed procurement due to previously accumulated stock, leading to reduced buying activity and downward pressure on the Price Index.
• Cautious Market Sentiment: Despite strong long-term demand, short-term purchasing remained conservative, reflecting a temporary dip in momentum across the lithium-ion battery supply chain.
Europe
• Lithium Hexafluorophosphate Spot Price in Europe remained firm throughout Q3 2025, with a price increase in September driven by tightening supply and strong demand from EV battery manufacturers.
• The Price Index showed upward momentum in September, reflecting increased procurement from European gigafactories and limited imports from Asia due to shipping delays.
• Key downstream uses include electrolyte salts in lithium-ion batteries, energy storage systems, and consumer electronics, with EV growth being the primary demand driver.
• The Lithium Hexafluorophosphate Production Cost Trend rose in September due to elevated energy prices and constrained availability of fluorine-based feedstocks.
• The Lithium Hexafluorophosphate Demand Outlook remains bullish, supported by EU electrification mandates, rising EV registrations, and expansion of local battery production facilities.
• The Lithium Hexafluorophosphate Price Forecast for Q4 2025 indicates continued firmness, with potential supply bottlenecks and sustained demand from automotive and industrial sectors.
Why did the price of Lithium Hexafluorophosphate change in September 2025 in Europe?
• Limited imports from Asia and constrained local production led to reduced availability, pushing the Lithium Hexafluorophosphate Spot Price higher.
• Increased procurement from European gigafactories, driven by rising EV production, contributed to upward pressure on the Price Index.
• The Lithium Hexafluorophosphate Production Cost Trend rose due to elevated energy prices and restricted access to fluorine-based feedstocks, further supporting the price increase.
For the Quarter Ending June 2025
Asia-Pacific (APAC)
• The Lithium Hexafluorophosphate Price Index in China declined by around 11.0% quarter-on-quarter, falling to USD 6,470/tonne FOB Qingdao.
• Why did the price of Lithium Hexafluorophosphate change in July 2025 in China?
Prices in early July continued to slide mildly in early July due to elevated inventories, weak spot demand from electrolyte producers.
• The Lithium Hexafluorophosphate Price Forecast for Q3 suggests continued softness unless there’s a strong demand rebound. Most producers expect rangebound-to-weak trends, with possible restocking toward the end of Q3 if policy clarity improves.
• The Lithium Hexafluorophosphate Production Cost Trend in Q2 remained under pressure.
• Raw material costs, including lithium carbonate, phosphorus pentachloride, and hydrofluoric acid, declined steadily across the quarter, enabling producers to lower offer levels while protecting slim margins.
• The Lithium Hexafluorophosphate Demand Outlook remained cautious. While domestic EV battery demand stayed strong, downstream electrolyte formulators and cell producers largely adhered to just-in-time purchasing strategies amid ongoing price volatility and global trade uncertainties.
• Chinese export volumes softened slightly, as South Korean and Indian buyers focused on long-term contract volumes, avoiding spot purchases.
• U.S. buyers remained conservative due to elevated freight costs and potential regulatory shifts.
• Inventory levels across domestic warehouses rose in June, reflecting excess supply as production rates stayed high at most facilities, even with occasional maintenance-driven dips.
North America
• The Lithium Hexafluorophosphate Price Index in North America remained under downward pressure throughout Q2 2025 due to global oversupply, softened cathode demand, and weak battery material restocking behavior.
• Why did the price of Lithium Hexafluorophosphate change in July 2025 in North America?
Prices in early July held flat or dipped slightly as buyers remained cautious, adjusting procurement to match domestic battery demand and avoiding aggressive restocking amid uncertain U.S.–Asia trade policies.
• The Lithium Hexafluorophosphate Price Forecast for Q3 is flat to slightly bearish unless end-user sectors (EVs, grid storage) show a demand resurgence or new incentives lift procurement sentiment.
• The Lithium Hexafluorophosphate Production Cost Trend was driven by international trends in lithium and phosphorus chemicals.
• Although domestic production remains limited, importers benefited from softened Asian prices, helping ease landed costs.
• The Lithium Hexafluorophosphate Demand Outlook was muted.
• North American battery producers operated at lower-than-expected utilization rates due to cautious OEM forecasts and persistent cost optimization cycles.
Europe
• The Lithium Hexafluorophosphate Price Index in Europe weakened during Q2 as soft battery-grade chemical imports from Asia met with restrained offtake.
• Why did the price of Lithium Hexafluorophosphate change in July 2025 in Europe?
In early July, prices continued to face mild pressure due to weak summer activity, cautious restocking, and consistent supply from Chinese exporters.
• The Lithium Hexafluorophosphate Price Forecast for Q3 shows potential stabilization toward the end of the quarter if government incentives and storage mandates boost battery-related orders.
• The Lithium Hexafluorophosphate Production Cost Trend in Europe was heavily influenced by freight rates and currency fluctuations.
• Soft Asian import prices helped EU importers maintain competitive procurement.
• The Lithium Hexafluorophosphate Demand Outlook was subdued across Q2.
• While automotive battery demand offered some support, delayed grid-scale storage deployments and policy ambiguity restricted broader downstream expansion.
For the Quarter Ending March 2025
North America
During the first quarter of 2025, the lithium hexafluorophosphate market in the United States exhibited significant volatility, shaped by persistent global oversupply, sluggish upstream lithium fluoride pricing, policy uncertainty, and fluctuating demand from downstream battery sectors. In January, prices weakened in line with falling lithium fluoride costs, which declined due to cheaper imports and weak support from lithium carbonate and hydrogen fluoride.
While broader lithium salt markets showed early signs of stabilization—thanks to a modest recovery in electric vehicle (EV) and energy storage system (ESS) production—the market remained under pressure from elevated inventories and cautious procurement strategies. In February, overall price momentum remained restrained amid global oversupply and muted restocking demand. Policy changes under the Trump administration introduced fresh uncertainty to EV-related incentives, clouding demand expectations for used in lithium-ion batteries.
By March, the market continued to face pressure from cheaper raw materials and reserved demand among cathode and electrolyte producers. Still, there were positive signs as combined EV sales in the U.S. and Canada surged 20% year-over-year in February, driven by tax incentives, expanded infrastructure, and broader EV model availability. This growing momentum in battery demand offers long-term potential for consumption, even as Q1 remained burdened by market surplus and inconsistent policy direction.
APAC
During the first quarter of 2025, China's lithium hexafluorophosphate market experienced overall price stability with minor fluctuations, largely dictated by balanced upstream and downstream dynamics, stable raw material costs, and conservative procurement behavior. While battery cell producers exerted some downward pressure, the market remained resilient due to cautious just-in-time purchasing and a balanced supply-demand outlook. Manufacturing activity remained aligned with demand, as producers operated with limited inventory buildup.
Electrolyte factory operating rates declined from 41.6% in December to 36.87% in January and further dipped to 34.81% in February, driven by the seasonal demand slowdown and Chinese New Year disruptions. Holiday-related logistics slowdowns and production halts in late January led to a temporary supply constraint, though demand remained weak, keeping prices mostly in check. Manufacturers continued production based on orders, avoiding significant inventory buildup. Battery manufacturers showed slight signs of demand recovery, but cautious procurement strategies persisted.
On the cost side, upstream raw materials like phosphorus pentachloride saw increases, though other components remained relatively stable. In early March, prices rose slightly due to tighter raw material availability, particularly fluorite, driven by mine closures and exploration difficulties. Both electrolyte and producers-maintained order-based production, fostering a stable market environment. Although demand from the downstream battery sector gradually recovered, it remained below expectations, contributing to subdued price activity.
Europe
In the first quarter of 2025, the lithium hexafluorophosphate market in Europe reflected the prolonged weakness of its upstream input, lithium fluoride, and the broader lithium compound landscape. The surplus in lithium hydroxide—a critical upstream feedstock for lithium fluoride—continued to trickle down, pressuring prices throughout the quarter. In January, lithium fluoride prices declined following a 1.9% drop in lithium hydroxide, reducing production costs and further weakening pricing across Belgium and other EU markets.
Downstream demand, especially from the battery and specialty electrolyte sectors, remained subdued during the early part of the year. Low seasonal demand and excessive inventories held back purchases from electrolyte manufacturers, despite some early restocking efforts. EV and ESS battery production started slowing, further reducing offtake. The sluggish consumer electronics segment added to the strain on demand, and most buyers adopted a wait-and-see approach amid weak price signals.
However, optimism began to emerge by March as Chinese buyers became more active ahead of the Lunar New Year, providing indirect support to the European market through raw material tightening. Meanwhile, an improving EV policy environment in Europe led to a 20% year-over-year rise in EV adoption, laying a stronger foundation for battery material consumption. As battery cell production ramps up in response, demand is expected to benefit in the coming quarters, particularly in high-performance applications requiring stable electrolyte formulations.
For the Quarter Ending December 2024
North America
The North American Lithium Hexafluorophosphate (LiPF6) market in Q4 2024 exhibited a mixed price trajectory, largely influenced by the dynamics of the global battery market. Initially, the quarter witnessed a period of relative price stability amidst an oversupplied electrolyte market and reduced consumer inquiries.
This oversupply, driven by factors such as increased production capacity and lower-than-expected demand from battery manufacturers, exerted significant downward pressure on LiPF6 prices. While demand from the EV sector in North America showed some growth, it was insufficient to offset the impact of the oversupplied market. Towards the end of the quarter, prices began to decline further, primarily due to cautious purchasing behavior from battery manufacturers and EV makers.
This cautious approach was influenced by factors such as tightening regulations in key markets, rising interest rates, and concerns about a potential economic slowdown. Despite these challenges, the North American LiPF6 market demonstrated some resilience. The growing demand for EVs in the region, albeit at a slower pace compared to other regions, continued to support the market. However, the overall market sentiment remained subdued, with concerns about oversupply and potential price volatility persisting.
APAC
Q4 2024 witnessed a volatile price trend for Lithium Hexafluorophosphate (LiPF6) in the APAC region, primarily driven by fluctuations in both supply and demand dynamics. The quarter began with a surge in prices due to robust demand driven by pre-holiday inventory buildup and improved consumer sentiment. However, this was followed by a slight dip in prices in the third week of October as weak consumer demand impacted ternary cathode material production. Subsequently, prices rebounded in November and December, primarily driven by increased cost pressures from rising upstream raw material prices like hydrofluoric acid, fluorite, and lithium fluoride). While supply-side constraints, such as production halts and maintenance shutdowns, initially supported price increases, the impact was mitigated by unexpected production levels and new project advancements. Demand remained moderate to high throughout the quarter, supported by strong NEV sales in China, although fluctuations were observed due to varying levels of demand from different cathode material producers. Overall, the Q4 2024 price trend for LiPF6 in the APAC region exhibited a volatile trajectory, with prices experiencing both upward and downward movements in response to shifting market dynamics.
Europe
The European Lithium Hexafluorophosphate (LiPF6) market in Q4 2024 exhibited a mixed price trajectory. The quarter commenced with a bearish trend, primarily driven by a significant influx of cheaper imports from Asia. Declining freight charges and increased container availability further exacerbated the downward pressure on prices. While Chinese producers-initiated efforts to curb output, these measures were proven insufficient to stabilize the market. A notable shift occurred mid-quarter, with prices experiencing a gradual increase. This upward trend was primarily attributed to rising production costs in major exporting nations, particularly driven by increased lithium carbonate and lithium fluoride prices. However, European demand remained relatively subdued, with limited impact on the overall market dynamics. Towards the end of the quarter, prices experienced further appreciation due to the arrival of higher-priced imports from China. Rising demand for electrolytes from Chinese battery cell manufacturers, coupled with increased production costs, significantly impacted export prices. Despite this upward pressure, European demand remained weak, with no significant supply shortages observed in the region.
