LiCarbonate Daily - Market Update for May 8

Today’s lithium carbonate market displayed a downturn in futures while spot prices remained stable, offering a comprehensive view across both sectors.

Futures Contracts: The main lithium carbonate 2407 contract experienced a decrease, closing the day down by 1.62%. The contract opened at 114,000 yuan per ton (~15,789.47 USD/ton) and closed at 112,050 yuan per ton (~15,519.39 USD/ton), with a trading volume of 118,354 contracts and an open interest of 190,964 contracts, an increase of 1,504 contracts from the previous trading day. After an initial drop, prices rose before maintaining a downward trend until the close.

Spot Prices: The SMM battery-grade lithium carbonate index stood at 111,609 yuan per ton (~15,458.31 USD/ton), down by 77 yuan from the previous working day. Spot prices for battery-grade lithium carbonate were quoted between 110,200 and 113,500 yuan per ton, with an average price of 111,850 yuan per ton (~15,491.69 USD/ton), remaining unchanged. Industrial-grade lithium carbonate prices were also stable, ranging from 108,800 to 110,000 yuan per ton, with an average of 109,400 yuan per ton (~15,152.35 USD/ton).

Market Insights: The lithium carbonate spot market continues to show minimal activity, with few scattered transactions occurring. Most lithium salt producers are maintaining their scattered order prices. Cathode and other downstream industries still have ample stock reserves from the lower-priced lithium carbonate purchases at the end of April. With current spot prices in early May exceeding their procurement expectations, market transactions have been sparse. Some downstream companies are delaying their May procurement to mid or late May, maintaining a cautious stance post-holiday.

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If you have any questions regarding the recent movement of lithium carbonate market (e.g. what caused it and 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