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Lithium Carbonate Price Hits 8-Month High amid Tight Supply

iconJul 21, 2017 11:32
Lithium carbonate surged on July 18, and will remain in upward track due to tight supply.

SHANGHAI, Jul. 21 (SMM) – High-end battery grade lithium carbonate was offered at 142,000 yuan per tonne on July 18 in China’s market, up 5% intra-day and 7% on a weekly basis, refreshing new high from August 2016, reported by Cailian Press.

Big supply deficit was the main driver behind the surge.

Li-battery producers resumed operation to normal level after release of the fourth batch of new energy vehicles recommended list, increasing lithium carbonate demand. Moreover, new capacity release of lithium carbonate extended, tightening supply.

Lithium carbonate price is likely to remain in upward track in anticipation of rising downstream demand and limited output. Battery grade lithium carbonate price is 135,000-138,000 yuan per tonne, and that of industrial lithium carbonate is 125,000-128,000 yuan per tonne for now after negotiating with large producers, 8-10% higher than January’s level. Many small and medium material producers say it is hard to buy goods even at price above 140,000 yuan per tonne.

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