SMM August 24: August 23, Hainan Mining announced that the company intends to invest no more than 1.065 billion yuan in the construction of Hainan Xingzhihai New Materials Co., Ltd. 20, 000 tons of battery-grade lithium hydroxide project (phase I).
It is reported that the construction cycle of the project is expected to be one and a half years, including the procurement and transportation of raw material spodumene to the completion of the battery-grade lithium hydroxide production line with an annual production capacity of 20,000 tons.
As we all know, battery-grade lithium hydroxide, as one of the core raw materials of power lithium battery, has been in short supply since 2021. Driven by the explosive growth of demand, the spot price of battery-grade lithium hydroxide continues to rise. As of August 23, according to the spot quotation of SMM, the average price of battery-grade lithium hydroxide was 115500 yuan / ton, up 135.7% this year.
"Click to view the spot market of SMM metal.
SMM research shows that the current domestic mainstream smelter orders are still relatively tight, it is expected that the future lithium hydroxide prices will still maintain an upward trend. "View details
However, it should be noted that in Hainan Mining's annual production of 20,000 tons of lithium hydroxide, the price of spodumene accounts for a relatively large proportion of the cost, and spodumene is mainly imported from Australia. Its price is affected by exchange rate fluctuations and possible international political risks, which may have a greater impact on project revenue.
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