LiCarbonate Daily - March 7th

Published: Mar 7, 2024 18:55
Source: SMM
On March 7th, lithium carbonate futures slightly increased by 0.27% to 113,000 yuan/ton, while spot prices rose to an average of 108,500 yuan/ton, indicating market caution.

The lithium carbonate market on March 7th experienced a slight increase in futures while the spot prices saw a modest rise, indicating a cautiously optimistic sentiment in the market.

Futures Market Dynamics: The lithium carbonate 2407 main contract showed a minor uptick of 0.27%, opening at 115,000 yuan/ton and closing at 113,000 yuan/ton. The trading volume was reported at 365,677 lots, with open interest climbing to 215,643 lots, an increase of 3,639 lots from the previous day. The price trend for the day was initially stable, followed by a downward fluctuation and then a steady decline until the end of the morning session. A recovery began in the afternoon, leading to a sharp drop towards the close but ultimately ended with a 0.27% increase.

Spot Market Overview: Spot prices for battery-grade lithium carbonate were quoted between 105,000 and 112,000 yuan/ton, with an average price of 108,500 yuan/ton, an increase of 1,000 yuan/ton from the previous working day. The SMM battery-grade lithium carbonate index reached 106,712 yuan/ton, up 1,248 yuan/ton. Industrial-grade lithium carbonate prices ranged from 93,000 to 105,000 yuan/ton, with an average of 99,000 yuan/ton, marking an increase of 1,500 yuan/ton. While most lithium salt companies kept their prices relatively stable, some adjusted their spot sale prices upwards.

Market Insights: Despite the stability in most lithium salt prices, the day saw a gradual elevation in the purchasing price point for immediate needs among cathode companies, who continued to rely on long-term contracts and customer-supplied sources for raw material supplementation. A few cathode companies also reported supplementing their raw material supplies through warehouse receipt purchases. The overall sentiment in the lithium carbonate spot market remains tense between supply and demand, with a keen eye on the pace of production recovery on the lithium salt front.

Conclusion: March 7th in the lithium carbonate market was characterized by a slight increase in futures and a gentle rise in spot prices, reflecting a market in delicate balance. Both suppliers and buyers are navigating through ongoing adjustments, with future market movements highly contingent on production recovery and demand stabilization.

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

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Yunnan Energy Wins Bid for 100MW/400MWh Vanadium Flow Battery Storage Project
Jul 4, 2026 12:50
Yunnan Energy Wins Bid for 100MW/400MWh Vanadium Flow Battery Storage Project
Read More
Yunnan Energy Wins Bid for 100MW/400MWh Vanadium Flow Battery Storage Project
Yunnan Energy Wins Bid for 100MW/400MWh Vanadium Flow Battery Storage Project
Yunnan Energy announced that it has been selected as the developer of the 100MW/400MWh Ninglang independent shared energy storage project in Lijiang, Yunnan Province. The project, which has been included in Yunnan's 2026 new shared energy storage project list, will adopt a grid-forming vanadium redox flow battery (VRFB) energy storage system and is scheduled to be commissioned within two years. The company said the project will strengthen its new energy business, although it remains subject to regulatory approvals.
Jul 4, 2026 12:50
SQM, Codelco Outline Expansion Plan to Lift Lithium Output to 470,000 mt/y
Jul 4, 2026 12:48
SQM, Codelco Outline Expansion Plan to Lift Lithium Output to 470,000 mt/y
Read More
SQM, Codelco Outline Expansion Plan to Lift Lithium Output to 470,000 mt/y
SQM, Codelco Outline Expansion Plan to Lift Lithium Output to 470,000 mt/y
SQM and Codelco's lithium joint venture, Novandino, has outlined plans in an environmental impact assessment (EIA) filing to increase annual lithium production capacity from around 270,000 mt currently to as much as 470,000 mt. The expansion is aimed at meeting long-term demand from electric vehicles and grid-scale energy storage. According to the filing, production will first gradually rise to around 300,000 mt before transitioning over seven years to an integrated production system incorporating direct lithium extraction (DLE), with additional capacity expected to come online over several years.
Jul 4, 2026 12:48
Congo cobalt exporters fear losing quotas due to administrative glitch, sources say
Jul 3, 2026 22:44
Congo cobalt exporters fear losing quotas due to administrative glitch, sources say
Read More
Congo cobalt exporters fear losing quotas due to administrative glitch, sources say
Congo cobalt exporters fear losing quotas due to administrative glitch, sources say
According to an industry letter seen by Reuters, exporters have been unable to submit export declarations through the customs platform since July 1 because ARECOMS, the Democratic Republic of Congo's strategic minerals regulator, has not formally notified customs to continue processing export quotas. As a result, major producers including CMOC Group, Glencore, Eurasian Resources Group (ERG) and Huayou Cobalt have been unable to complete export procedures. Meanwhile, ARECOMS requires companies to utilize their first-half export quotas by July 5, after which any unused volumes will be withdrawn and reallocated. Industry sources estimate that around 60%–75% of companies are unlikely to meet the deadline due to administrative delays. If the issue is not resolved promptly, up to 20,000 tonnes of cobalt exports, worth approximately US$1.1 billion at current prices, could be affected. CMOC alone could lose almost all of its second-quarter export quota. SMM will continue to monitor developments.
Jul 3, 2026 22:44
LiCarbonate Daily - March 7th - Shanghai Metals Market (SMM)