Additionally, prices of lithium hexafluorophosphate (LiPF6)—a key raw material used in electrolytes— have recently started to rise again, prices of anode materials, iron phosphate, and lithium battery copper foil have almost bottomed out, and China’s EV battery industry chain is gradually stabilizing.
The lowest quoted price has already dipped to CNY 180/kg (US$26.10), with average market transaction prices hovering around CNY 190/kg. TrendForce predicts that silicon prices will continue to fall in April and May, driven by an expansion in silicon capacity in 2Q23.
According to TrendForce’s research, polysilicon prices began to plummet in December last year, so the major polysilicon suppliers started to limit market supply.
According to TrendForce’s research, the average prices of battery-grade lithium carbonate and lithium hydroxide in China registered MoM drops of 9% and 8% respectively for February.
TrendForce’s latest research on the global market for solar PV reveals that some of the unmet demand that emerged during the 2021~2022 period has been carried over to 2023. In the past two years, the supply chain for PV products experienced pandemic-related disruptions, and prices of PV modules (solar panels) were high due to a supply crunch for polysilicon.