China’s Lithium Fluoride Prices soared by 33.61% in Fourth Quarter 2021
- 10-Jan-2022 5:09 PM
- Journalist: Nina Jiang
Since, the mid-of August, the Lithium Fluoride market in China observed a persistent growth with the support of numerous economic factors. The congestion in the Chinese port skyrocketed after the authorities imposed restrictions amidst the resurgence of COVID cases at the ports. In response, the freight charges soared drastically and crossed the USD 20,000 per 40 ft container mark which proportionally added the cost support to the Lithium Fluoride quotations.
Whereas, In Conference of Parties (COP 26) Geneva the ministers and party delegates of numerous countries across the globe settled on the paced-up transition towards the cleaner and green economy after the week-long of tough negotiations. In repercussion, the conglomerates and downstream players in the energy sector increased their investment rapidly to capture the larger market share and ensure the long-term netbacks on the investments. In which Electric Vehicles (EV’s) are a major segment and the alpha players were eager to ensure the long-term supply for Lithium “Key raw material for EV Batteries”. As a ripple effect, the quotations for all derivatives for Lithium observed an enormous surge, therefore proportionally the Lithium Fluoride quotations also increased drastically in the Chinese domestic market. In addition, after the EV giant Tesla announced to shift production of their all models based on the downstream LiPF6. The Chinese ramped up investment and numerous LiPF6 manufacturers signed MOU’s to ensure the supplies for Lithium Fluoride in the upcoming period.
As per ChemAnalyst, the Chinese Lithium Fluoride market in China observed growth of 33.61% in the offers of Lithium Fluoride during the fourth quarter of 2021. However, several market players anticipated that the sales of Electric Vehicles in China are likely to be doubled with annual sales estimated at 5 Million in 2022. Therefore, it is expected that the prices of Lithium Fluoride are likely to remain buoyed in 2022.