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Lithium carbonate prices increased on February 28th.

iconFeb 28, 2024 14:36
On February 28th, SMM reports rising lithium carbonate prices amid slow supply recovery, market concerns, and limited acceptance of price increases despite steady demand.

SMM February 28th report, the SMM battery-grade lithium carbonate index is 97,055 yuan/ton, up 1,055 yuan/ton from the previous working day; battery-grade lithium carbonate 96,000-100,000 yuan/ton, with an average price of 98,000 yuan/ton, up 900 yuan/ton from the previous working day; industrial-grade lithium carbonate 90,000-93,500 yuan/ton, with an average price of 91,800 yuan/ton, up 1,400 yuan/ton from the previous working day. The price of lithium carbonate continued to rise on the day. From the perspective of market sentiment, the current market supply recovery progress is still relatively slow, and the overall start-up situation in recycling, Jiangxi, and other regions remains sluggish. Moreover, the upcoming maintenance period of some leading companies and environmental protection factors in Jiangxi bring a bit of uncertainty to the future supply, causing market concerns. However, some salt factories currently have a strong mentality of maintaining prices, and some enterprises have the psychology of hoarding goods. However, due to the downstream demand growth still within expectations, the current plan is still to pick up long-term orders, supplemented by small batch spot purchases as needed, the current resistance to price increases still exists, and the acceptance capacity is limited, so although the market center of gravity has an upward trend, it is still quite limited.

If you have any questions regarding the industry data, or the news (e.g. how this can affect your business). Please feel free to reach out to me:

Robin He

SMM Li-ion Battery Materials Department

E: robinhe@smm.cn | T: +86-21-51595884

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For queries, please contact Michael Jiang at michaeljiang@smm.cn

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