The average Price of Lithium Carbonate Soared 3,000 yuan/mt to Above 480,000 yuan/mt

SHANGHAI, August 23 (SMM) - SMM assessment showed that the price of lithium carbonate has continued to rise in recent weeks. As of August 22, the spot prices of domestic industrial-grade lithium carbonate were 463,000-470,000 yuan/mt, and the average price was 466,500 yuan/mt, an increase of 3,000 yuan/m in a single day.

Battery-grade lithium carbonate prices also went up. As of August 22, its spot prices have risen to 479,000-485,000 yuan/mt, with an average price of 482,000 yuan/mt, a single-day increase of 3,000 yuan/mt.

According to the latest SMM survey, the spot transaction volume of lithium carbonate remained thin due to tight supply. The power rationing in Sichuan, which is one of the lithium salt production hubs in China, disrupted the entire lithium carbonate market. With the capacity of upstream raw materials being released at a slower pace, the power rationing has intensified the supply crunch. The use of backup power brought certain relief to some lithium salt smelters in Sichuan. Due to rising purchase prices and operating costs, some traders also raised offers. In addition, the upcoming stocking period in mid-to-late August also contributed to higher market prices.