LiCarbonate Daily - March 21st Overview

Futures Show Positive Momentum: On March 21st, the lithium carbonate 2407 main contract saw a continuation of its upward trajectory, marking a 1.34% increase. It opened at 118,000 yuan/ton and settled at 117,350 yuan/ton, with trading volume at 223,038 and open interest rising to 208,023, a gain of 3,426 from the previous day. The day's activity featured a slight downward fluctuation before a rebound towards the end of the morning session, with the contract ultimately closing with gains.

Spot Market Holds Steady: The spot prices for battery-grade lithium carbonate remained unchanged, ranging between 110,000 and 115,100 yuan/ton, with an average price of 112,550 yuan/ton. The SMM battery-grade lithium carbonate index reflected a modest increase, rising by 305 yuan to 111,662 yuan/ton. Meanwhile, industrial-grade lithium carbonate prices saw a slight boost, with the average price climbing to 108,000 yuan/ton, up by 500 yuan.

Market Sentiments and Dynamics: Lithium carbonate suppliers maintained stable pricing, with some noting a slight uptick in transaction prices for industrial-grade lithium carbonate. Downstream cathode manufacturers and other buyers indicated a lukewarm interest in procuring battery-grade lithium carbonate, showing a preference for lower-priced industrial and near-battery-grade materials, leading to relatively subdued overall trading activity in the spot market.

Concluding Thoughts: The lithium carbonate market on March 21st highlighted a nuanced balance between futures gains and a steady spot market, underpinned by strategic pricing and cautious demand from downstream sectors. With the futures market demonstrating resilience and the spot market showing steady prices amidst selective purchasing attitudes, the landscape suggests a cautious but stable approach to navigating the current market dynamics, anticipating future shifts in supply and demand.

If you have any questions regarding the industry data (e.g. how this can affect your business), or would like to know more comprehensive pricing info on Lithium Carbonate. Please feel free to reach out to me:

Robin He

SMM Li-ion Battery Materials Department

E: robinhe@smm.cn | T: +86-21-51595884