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Prices of Batteries Have Increased and Will Remain on Trend Through 2022
2022-02-10
As one of the raw materials for the lithium battery industry, the price of lithium carbonate continues to rise. Data shows that on 25 November 2021, battery-grade lithium carbonate quotes exceeded 200,000 yuan per tonne for three consecutive days, a record high, up 359.8% from 43,500 yuan per tonne in the same period last year and up 277.4% since this year. On the basis of the current lithium price has reached a record high of 200,000 yuan / tonne, 2022 and 2023 will continue to maintain the upward momentum.
The high price of battery-grade lithium carbonate has led to increased pressure on downstream costs, so downstream enterprises are also interested in price increases, but there is a lag in price transmission, during the price increase, the profits of downstream enterprises will be reduced because of high raw material prices.
At present, the global new energy vehicle market drives the lithium battery industry chain to maintain a high degree of prosperity. In terms of the world's largest Chinese market, according to data, from January to October 2021, the retail volume of domestic new energy vehicles was 2.139 million, an increase of 191.9% year-on-year.
In the long run, with the development of the new energy vehicle industry, the demand for lithium carbonate will continue to rise. A research report by Everbright Securities estimates that the global penetration rate of new energy vehicles will reach 20% in 2025, corresponding to new energy passenger car sales of 18.24 million units; corresponding to new energy commercial vehicle sales of 710,000 units, and the combined lithium carbonate demand for new energy vehicles will reach 1.02 million tons.
Supply will continue to be tight
In fact, the world's major lithium materials companies are stepping up their expansion of lithium carbonate production. For example, SQM, one of the world's largest lithium giants, has announced that lithium carbonate production capacity will increase from 120,000 tonnes to 180,000 tonnes by 2022. Industry researchers predict that overseas lithium companies will add about 320,000 tonnes of capacity in 2022.
In the industry's view, as the price of lithium resources rises as an inevitable trend, Chinese companies are buying large quantities of lithium ore overseas, mainly to ensure that future prices are relatively stable and that they can have more say in the industry. In recent years, inventories of lithium carbonate producers have been at low levels, which will also lead to higher prices for batteries
The high price of battery-grade lithium carbonate has led to increased pressure on downstream costs, so downstream enterprises are also interested in price increases, but there is a lag in price transmission, during the price increase, the profits of downstream enterprises will be reduced because of high raw material prices.
At present, the global new energy vehicle market drives the lithium battery industry chain to maintain a high degree of prosperity. In terms of the world's largest Chinese market, according to data, from January to October 2021, the retail volume of domestic new energy vehicles was 2.139 million, an increase of 191.9% year-on-year.
In the long run, with the development of the new energy vehicle industry, the demand for lithium carbonate will continue to rise. A research report by Everbright Securities estimates that the global penetration rate of new energy vehicles will reach 20% in 2025, corresponding to new energy passenger car sales of 18.24 million units; corresponding to new energy commercial vehicle sales of 710,000 units, and the combined lithium carbonate demand for new energy vehicles will reach 1.02 million tons.
Supply will continue to be tight
In fact, the world's major lithium materials companies are stepping up their expansion of lithium carbonate production. For example, SQM, one of the world's largest lithium giants, has announced that lithium carbonate production capacity will increase from 120,000 tonnes to 180,000 tonnes by 2022. Industry researchers predict that overseas lithium companies will add about 320,000 tonnes of capacity in 2022.
In the industry's view, as the price of lithium resources rises as an inevitable trend, Chinese companies are buying large quantities of lithium ore overseas, mainly to ensure that future prices are relatively stable and that they can have more say in the industry. In recent years, inventories of lithium carbonate producers have been at low levels, which will also lead to higher prices for batteries
