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On March 18th, lithium carbonate futures increased by 3.00% to 116,900 yuan/ton, with spot prices mildly rising to an average of 112,550 yuan/ton, amidst strategic market adjustments.

On March 12th, lithium carbonate futures surged 4.13% to 119,850 yuan/ton, and spot prices rose to an average of 110,000 yuan/ton, amid market optimism and supply-demand adjustments.

Once production commences, the annual output is expected to be about 20,000 tons of lithium carbonate equivalent, which can support the production of approximately 300,000 electric vehicles.

Lithium hydroxide project and Mali lithium mine project will be successively completed and put into production within 2024] An insider at Hainan Mining stated that the lithium hydroxide project and the Mali lithium mine project will be successively completed and put into production within 2024, with the lithium mine project expected to contribute to Hainan Mining's performance in 2025.

SMM expects more frequent liquidating transactions to appear in 2024, as the industry grapples with immediate financial pressures and companies push for more cost-efficient strategies.

On February 21, the lithium carbonate 2407 main contract rose, up 3.47%. Data showed that the lithium carbonate 2407 main contract opened at RMB 92,700/mt, closed at RMB 96,900/mt, with trading volume of 324,538 lots and open interest of 165,643 lots, down 7,512 lots from the previous trading day. SMM’s assessment of spot battery-grade lithium carbonate prices were RMB 93,300-99,000/mt, averaging RMB 96,150/mt, down RMB 600/mt from the previous working day. The trend shows that after opening, lithium carbonate prices oscillated and held steady before surging significantly towards the end of the session, briefly touching the daily high of RMB 103,000/mt before falling back. After the noon opening, the main contract oscillated steadily for a period before declining slightly in oscillation, eventually closing up 3.47%.

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