LiCarbonate Daily - March 6th

Published: Mar 6, 2024 17:32

Source: SMM

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On March 6th, lithium carbonate futures fell by 1.17% to 114,000 yuan/ton, while spot prices remained stable at an average of 107,500 yuan/ton amidst market steadiness.

The lithium carbonate market on March 6th showed a continuation of the previous day's trends, with futures experiencing a slight decline and spot prices remaining stable.

Futures Market Dynamics: The lithium carbonate 2407 main contract saw a decrease of 1.17%, opening at 110,800 yuan/ton and closing at 114,000 yuan/ton. Trading volume reached 507,862 lots, with open interest up to 212,004 lots, an increase of 9,598 lots from the previous trading day. The day started with stable prices, followed by a period of volatility and a downtrend, maintaining a weak performance before slightly recovering. After the midday opening, the main contract remained steady but eventually closed down by 1.17%.

Spot Market Overview: Spot prices for battery-grade lithium carbonate were quoted between 103,000 and 112,000 yuan/ton, with an average price of 107,500 yuan/ton, unchanged from the previous day. The SMM battery-grade lithium carbonate index stood at 105,465 yuan/ton, down 655 yuan/ton from the previous working day. Prices for both battery-grade and industrial-grade lithium carbonate held steady, with most lithium salt companies maintaining their quotes from the previous day, although a few adjusted their prices slightly in response to futures market movements.

Market Insights: Overall, the lithium carbonate market was relatively stable on March 6th. Despite the slight adjustment in futures, the majority of lithium salt companies did not significantly lower their quotes, continuing with the previous day's pricing. However, some adjustments were made in response to the futures market's downtrend. Feedback from some cathode manufacturers indicated that current market prices are still above their purchasing thresholds. With long-term contracts and customer-supplied sources supplementing their needs, and the future market remaining uncertain, there has been no significant shift in purchasing or stockpiling sentiment among these companies.

Conclusion: On March 6th, the lithium carbonate market experienced a minor decline in futures while spot prices remained unchanged, reflecting a market with stable demand and cautious optimism among suppliers. Despite the slight adjustments in response to futures, the overall market sentiment remains cautious, with buyers and sellers navigating the uncertainties ahead.

If you have any questions regarding the industry 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

Market review Output SMM price price of metal metal prices Energy Storage EV New Energy new energy prices 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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