SMM November 22nd: recently, the prosperity of the lithium mining industry has further improved, and the salt lake lithium extraction concept plate has continued to rise since November 17, showing a very active performance. Recently, the salt lake lithium extraction index rose again, and Koda opened its trading limit in the morning, successfully recording 3 boards in 4 days since November 17. A number of enterprises, such as Tibet City Investment, Yiwei Lithium Energy, Tianqi Lithium Industry, Tibet Mining and so on, rose more than 5%.
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On November 19th, SQM, the world's second-largest lithium miner, predicted that the average price of lithium would rise nearly 50 per cent in the fourth quarter of this year compared with the third quarter. According to Chile's previous forecast, global demand for lithium will quadruple to 1.8 million tons by 2030, when the market supply is expected to reach 1.5 million tons.
Driven by the high prosperity of the lithium mining industry, the price of lithium concentrate has increased significantly, which forms an obvious cost support for the price of lithium salt. According to the spot price of SMM, as of November 19, the average spot price of domestic battery-grade lithium carbonate was 198500 yuan / ton, up 275.5% from the beginning of the year.
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As another major raw material for power batteries, battery-grade lithium hydroxide naturally does not want to lag behind. as of November 19, the average spot price of domestic battery-grade lithium hydroxide was 188000 yuan / ton, up 254.7% from the beginning of the year.
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From the SMM's recent research, lithium carbonate in the past two months may form a supply gap of about 16%, although the material factory inventory clearance overlay traders release or ease the supply pressure, but the fundamental pattern is firm, it is expected that the price of lithium carbonate will still rise slightly in the future. "View details
With regard to the current positive development of lithium prices, Tianfeng Securities commented that the price of lithium concentrate has risen to 1650 US dollars / ton in the fourth quarter, while the latest price of battery-grade lithium carbonate is 190000 yuan / ton. In the game of profits brought by rising lithium prices, the lithium salt factories that signed the long Association still have the upper hand and continue to be optimistic about the performance growth of lithium salt enterprises in the fourth quarter.
Guotai Junan also recently released the latest research report that short-term lithium supply and demand continues to be tight, lithium prices may remain strong, and the concentrate end is more certain. With the gradual relaxation of the power restriction policy in the fourth quarter, the production of cathode materials continues to increase. In particular, the production and demand of lithium iron phosphate are in full swing, and the demand for lithium carbonate is further increasing. Since last week, the third rise in lithium prices has been brewing and started, and lithium carbonate prices will take the lead in rising.
In addition, Citic Securities also spent on November 18, and the tight supply of lithium in 2022 may not be alleviated, and lithium prices are expected to maintain an upward trend. At the same time, with the rise of lithium prices, the logic of plate allocation has shifted from "price increases" to "performance". Thanks to the rising lithium price hub, lithium company's performance in 2022 is expected to be significantly thicker than the same period last year, bringing a significant valuation advantage. Companies with high self-sufficiency rate of lithium ore and continuous landing of lithium resources are recommended.
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