Momenta Files for $1B IPO in Hong Kong Amid Autonomous Driving Boom

[SMM Daily Review: Spot Lithium Carbonate Prices Dropped Slightly on March 6] The SMM battery-grade lithium carbonate index price dropped slightly from the previous working day. Futures performance showed that the most-traded contract fluctuated within the range of 151,100-160,900 yuan/mt throughout the day, and open interest increased by about 1,500 lots from the previous trading day. In terms of actual transactions, upstream lithium chemical plants remained weak in their willingness to sell spot orders, with strong sentiment to hold back sales and hold prices firm. Most downstream enterprises took a cautious purchasing stance, mainly staying on the sidelines. A small number of material plants bought the dip when prices were relatively low. Overall, although market inquiries increased, actual transactions remained somewhat sluggish.

As losses in its automotive business continued to increase, Japanese automaker Honda sought to strengthen its product lineup in the domestic Japanese market and therefore planned to import vehicles from the US and China for sale at home. After Honda’s automotive business posted an operating loss of 166.4 billion yen ($1.1 billion) in the first nine months of the fiscal year, it was reassessing its strategy in an effort to improve competitiveness.

[SMM Daily Review: Spot Lithium Carbonate Prices Continued to Decline on March 4] The SMM battery-grade lithium carbonate index price continued to fall from the previous working day. In terms of futures performance, the most-traded contract fluctuated within the range of 146,000–155,700 yuan/mt, while open interest in the most-traded contract decreased by about 600 lots from the previous trading day. In terms of actual transactions, upstream lithium chemical plants’ willingness to sell spot orders remained weak, with strong sentiment to hold back supply and hold prices firm. Morning prices fell rapidly to below 150,000 yuan/mt, boosting purchase willingness among downstream material plants. At present, most enterprises adopted a laddered order-placement strategy to buy on dips. Overall, market inquiries and transactions were relatively active.