SMM Daily Comments (Jun 1): Base Metals Mostly Rose with SHFE Aluminium Surging, Ferrous Metals Rose across the board, Iron Ore Skyrocketed

On June 17, lithium carbonate futures fell 1.44% to 95,800 yuan/ton (~13,213.79 USD/ton). The battery-grade index dropped to 97,486 yuan/ton (~13,446.34 USD/ton).

On May 21, lithium carbonate futures closed at 106,700 yuan/ton (~14,902.23 USD/ton). The battery-grade index fell to 106,796 yuan/ton (~14,915.64 USD/ton).

SMM New Energy Industry Weekly Sharing – Cathode Material14th May 2024

On May 14, lithium carbonate futures fell 2.05% to 105,000 yuan/ton (~14,502.76 USD/ton). The battery-grade index dropped to 109,232 yuan/ton (~15,087.29 USD/ton).

On May 9, lithium carbonate futures dropped 0.76% to 111,700 yuan/ton (~15,449.52 USD/ton). The battery-grade index fell 419 yuan to 111,190 yuan/ton (~15,378.98 USD/ton).

Today's lithium carbonate market saw a rise, with the SMM index climbing to 111,624 yuan/ton (~$15,417.68 USD/ton), while futures dropped by 2.15% to 111,450 yuan/ton.

Today's lithium carbonate market declined slightly, with the SMM index falling to 110,678 yuan/ton (~$15,265.93 USD/ton) and futures decreasing by 0.90%. Prices remained relatively stable.

On March 21st, lithium carbonate futures rose by 1.34% to 117,350 yuan/ton, while spot prices remained stable at 112,550 yuan/ton amidst selective purchasing behavior.

After the Spring Festival, lithium iron phosphate companies have received price increase notices from their precursor iron phosphate suppliers. This comes amid significant losses for iron phosphate companies due to cost pressures. The companies are now facing the difficult choice of continuing to seize market share at a loss or shrinking their market share to maintain stronger cash flow. Some companies have proposed price increases on the first trading day after the holiday as a way to change the current situation. The market currently faces overcapacity, severe price competition, and frequent incidents of seizing market share at a loss. It remains to be seen whether the price increase notice will bring order and regulation to the market. Future market changes are awaited.

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