Lithium hydroxide demand is growing rapidly, prices will rise
Lithium hydroxide is used to make high-nickel ternary materials with higher energy density and better charge and discharge performance. GF Securities expects that demand for lithium hydroxide is expected to grow rapidly, while supply will remain tight in the future, or drive prices to rise steadily. Rapid growth in demand <br style="padding: 0px; margin: 0px;"> Theoretical studies have shown that using lithium hydroxide as a lithium source material, the initial discharge capacity is as high as 172mAh / g, and has a better tap density, there are more Large rate of charge and discharge performance. Therefore, many high nickel ternary materials such as NCM811, 523 will gradually use lithium hydroxide instead of lithium carbonate. Rice Huller Head,Rice Milling Machine Head,Huller Head,Huller Machine Hunan Nongyou Machinery Group CO.,LTD , https://www.ricemill.nl
In addition, the subsidy policy is an important factor driving the replacement of lithium hydroxide. In terms of passenger cars, the latest subsidy policy subsidizes 1.1 times the mass energy density above 120Wh/kg. In terms of passenger cars, the latest subsidy policy gives different subsidy adjustment factors for different energy densities of automobiles.
On the whole, new energy vehicles with higher energy density will receive higher policy subsidies and become an important driving force for the development of high-nickel ternary batteries. High-energy density high-nickel ternary must use lithium hydroxide, so lithium hydroxide replaces lithium carbonate or becomes a trend.
Limited new capacity <br style="padding: 0px; margin: 0px;"> Lithium hydroxide can be made from spodumene or lithium carbonate. Battery-grade lithium hydroxide has high purity requirements and has certain technical thresholds. Affected by the increase in the proportion of global ternary batteries, the phenomenon of shortage of lithium hydroxide in the international market last year was reflected in the vertical increase in prices.
In 2015, China produced 22,000 tons of lithium hydroxide, down 4.55% year-on-year. It is expected that the supply of lithium hydroxide will remain stable in 2016, and the change will not be too great. In terms of domestic expansion, Yanfeng Lithium Industry has an annual output of 20,000 tons of lithium hydroxide project, which is expected to start to increase in 2018; Tianqi Lithium Industry will invest in an annual production capacity of 24,000 tons, which is expected to be put into operation in 2019, with limited production capacity growth. Under the current policy-driven path, demand for lithium hydroxide is expected to grow rapidly, and the supply of lithium hydroxide will remain tight in the future, or push prices up steadily.