Auction of Australian Spodumene to Commence Again

On June 13, lithium carbonate futures rose 1.14% to 97,800 yuan/ton (~13,489.66 USD/ton). The battery-grade index fell to 99,121 yuan/ton (~13,671.86 USD/ton).

On June 6, lithium carbonate futures rose 0.80% to 101,150 yuan/ton (~13,951.72 USD/ton). The battery-grade index fell to 101,172 yuan/ton (~13,954.76 USD/ton).

On May 24, lithium carbonate futures rose 2.28% to 107,600 yuan/ton (~14,861.88 USD/ton). The battery-grade index increased to 106,293 yuan/ton (~14,681.35 USD/ton).

In the first quarter of 2024, major central enterprises such as China Energy Construction, CNNC, State Energy Group, China Huadian Group, China Huaneng Group, China Datang Group, State Power Investment, and China Energy Construction have secured a total of over 56GW in EPC contracts for photovoltaic power stations. Ground-mounted power stations are the dominant project type, with distributed photovoltaic stations also gaining traction. Bid prices for photovoltaic EPC projects have decreased due to lower raw material costs. Central SOEs and private enterprises like Suntech, JA Solar, and Schneider Electric have won bids, indicating a competitive market for photovoltaic projects in China.

Today's lithium carbonate market rose significantly, with the SMM index at 112,624 yuan/ton (~15,577.32 USD/ton) and futures up 2.02%, amid strong pricing sentiment and supply tightness.

Today's lithium carbonate market saw a modest increase, with the SMM index at 111,571 yuan/ton (~15,431.67 USD/ton) and futures rising by 0.44%, amid slight fluctuations.

SHFE 2404 tin contract saw limited fluctuations last Friday night, closing at 226,800 yuan/mt, down 0.24%.

At last Friday’s night session, the most-traded SHFE 2405 aluminum contract opened at 19,445 yuan/mt, with its lowest and highest at 19,400 yuan/mt and 19,595 yuan/mt before closing at 19,510 yuan/mt, up 110 yuan/mt or 0.57%.

Tesla has reduced production of electric cars at its China factory due to slow growth in new energy car sales and fierce market competition. Employees have been instructed to work 5 days a week instead of the usual 6 and a half days, with no clear timeline on when normal production will resume. Competition in China is increasing, with Tesla's shipments down in the first two months of 2024, and demand for electric cars in other major regions like the US and Europe also slowing down. Some production lines at Tesla's Shanghai factory, including the battery workshop, are facing longer shutdowns, with production restrictions expected to extend until April.

Energy Storage Battery Prices Remain Stable in February amid Intensifying Market Competition