The US lithium fluoride market continues to demonstrate stability in the week entering March 2024. However, the downstream sector of lithium-ion battery manufacturing has faced subdued demand for lithium fluoride, primarily due to a cautious consumer market adopting a wait-and-see stance amidst declining prices of lithium fluoride in the previous month. In addition to demand factors, manufacturing firms have noted shrinking profit margins stemming from plummeting production costs of lithium fluoride.
Furthermore, beyond the domestic market, both North American and European markets have been significantly influenced by the dominant presence of the Chinese market. China's dominance in the EV markets of Europe and the US is beyond doubt. The emergence of Chinese EV manufacturers like BYD has been remarkable and has eventually influenced the lithium salts market, including that of lithium fluoride. magnesium and fluorine
As of 1st March 2024, the assessed prices of lithium fluoride CIF New York Port were USD 58,000/MT. Moreover, the region has noted sufficient lithium fluoride inventories, coupled with a limited influx of imports. Additionally, with the declining outlook for the lithium carbonate market, there has been a significant reduction in the production costs of lithium fluoride. Also, many of the upstream lithium hydroxide markets are grappling with an excess supply scenario, leading exporters to slash their offered prices, eventually leading to low production costs of the product. Also, the shipping time increased due to ongoing supply disruptions in the Middle East due to which, the containers were diverted from the Cape of Good Hope, thereby, increasing the delivery time of the raw materials, including lithium fluoride.
Industry experts anticipate a mild recovery in auto sales for February compared to January 2024. Also, industry players express skepticism regarding the sustainability of this momentum due to the challenging purchase environment faced by auto consumers. Despite positive trends in pricing, inventory, and incentives, which typically stimulate new vehicle sales growth, persistently high-interest rates and economic uncertainty present significant obstacles to achieving consistent demand upticks in the EV segment.
Major hurdles highlight slow adoption rates, high costs, and insufficient charging infrastructure as significant barriers to achieving widespread market penetration, which are unlikely to be addressed sooner. Moreover, it is noted that the initial wave of consumers that drove early growth in the EV sector has largely already made their purchases. Eventually, it raises valid concerns about the current state and expectations of EV sales in the US.
According to the ChemAnalyst database, lithium fluoride prices are anticipated to exhibit further stability in March as the market fundamentals are anticipated to operate in equilibrium.
Lithium Fluoride Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Manufacturing Process, 2015-2032
boron trifluorida Copyright © ChemAnalyst - 2020 | Terms & Conditions | Privacy Policy