LiCarbonate Daily - March 4th

Published: Mar 4, 2024 16:26

Source: SMM

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On March 4th, lithium carbonate futures fell by 0.93% to 117,600 yuan/ton, while spot prices rose to an average of 106,000 yuan/ton, reflecting mixed market dynamics.

In today’s lithium carbonate market, there was a mixed movement in both the futures and spot prices, along with notable insights from the supply and demand dynamics.

Futures Market Dynamics: The lithium carbonate 2407 main contract experienced a downturn, with a decrease of 0.93%. The contract opened at 121,000 yuan/ton and closed at 117,600 yuan/ton, with a trading volume of 669,592 lots and open interest rising to 208,233 lots, an increase of 3,000 lots from the previous day. The day’s trend saw an initial slight increase followed by a period of consolidation, leading to a significant drop towards the end of the morning session. The afternoon session continued the downtrend, dipping to a daily low of 115,250 yuan/ton before slightly recovering, ultimately closing down by 0.93%.

Spot Market Overview: SMM reported the spot price for battery-grade lithium carbonate ranged between 101,000 and 111,000 yuan/ton, with an average price of 106,000 yuan/ton, marking an increase of 3,500 yuan/ton from the previous working day. The SMM battery-grade lithium carbonate index stood at 103,517 yuan/ton, up 2,397 yuan/ton, while industrial-grade lithium carbonate prices ranged from 91,500 to 101,000 yuan/ton, with an average price of 96,300 yuan/ton, up 1,750 yuan/ton.

Market Insights: Today's overall upward trend in lithium carbonate prices reflects a complex interplay of factors. On the supply side, some lithium salt companies are still in the early stages of recovery from maintenance, leading to a relative scarcity of available stock beyond long-term contracts. This situation, coupled with the continued stance of selling at firm prices, has driven up spot market quotes. However, downstream industries such as cathode manufacturers are facing challenges in passing on the rising costs of lithium carbonate to their products, squeezing production profits. The current high prices in the market are seen more as driven by expectations of future demand rather than current needs, leading to cautious purchasing strategies among downstream players, focusing on minimal necessary acquisitions to maintain a reasonably safe inventory level.

Conclusion: The lithium carbonate market on March 4th showcased a decline in futures while the spot market prices edged higher, influenced by a tight supply and cautious demand amid rising prices. The current market conditions suggest a cautious optimism among market participants, balancing between supply limitations and anticipatory demand adjustments.

If you have any questions regarding the data (e.g. how this can affect your business), or would like to know more comprehensive pricing info on Lithium Carbonate. Please feel free to reach out to me:

Robin He

SMM Li-ion Battery Materials Department

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

Inventory Futures market Market review SMM price price of metal metal prices New Energy Lithium Prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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