SHANGHAI, Feb 14 (SMM) - The average monthly price of battery-grade lithium carbonate was 485,313 yuan/mt in January, down sharply by 12% month-on-month amid poor demand.
At the beginning of the month, the lithium carbonate prices fell sharply, and the mainstream transaction prices also dropped rapidly. CAM enterprises, bearish on the future demand, continued to slow their procurement. Nevertheless, a small amount of lithium carbonate was traded driven by rigid demand, but at significantly lower prices. Some traders sell off in a panic, and the spot prices were dragged down due to frequent transactions in small volume.
In the middle of the month, the lithium carbonate prices remained on a downward path. Major lithium salt plants lowered their offers further, but trades were thin. At the same time, a slowdown in the pick-ups under long-term orders enhanced their willingness to make shipment. The downstream buyers basically took a wait-and-see stance and placed fewer orders in small quantities.
At the end of the month, the lithium carbonate prices dropped steadily with a tendency towards stability. Back from the CNY holiday, both lithium salt plants and CAM enterprises stood on the sidelines. As a result, the thin trades in the market promoted the prices to stabilise.