LiCarbonate Daily - March 15th Insight

Published: Mar 15, 2024 19:23

Source: SMM

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On March 15th, lithium carbonate futures dipped by 0.65% to 115,050 yuan/ton, while spot prices remained stable at an average of 112,250 yuan/ton, amid cautious market sentiment.

Futures Market Sees Modest Decline: The lithium carbonate 2407 main contract experienced a slight downturn of 0.65% on March 15th, with the day starting at 112,300 yuan/ton and closing at 115,050 yuan/ton. Despite a trading volume of 322,636 and a decrease in open interest by 4,181 to 206,667, the market's movements were relatively stable throughout the day, featuring minor fluctuations around the daily average, concluding with a small decrease.

Spot Market Holds Steady: Spot prices for battery-grade lithium carbonate remained stable, quoted between 110,000 and 114,500 yuan/ton, with an average price unchanged at 112,250 yuan/ton from the previous day. The SMM battery-grade lithium carbonate index slightly decreased by 215 yuan to 110,469 yuan/ton, while industrial-grade lithium carbonate saw a slight reduction in its average price to 106,900 yuan/ton, down by 350 yuan.

Market Dynamics: Today’s lithium carbonate market showed a steadiness in spot prices, with most lithium salt companies continuing their focus on long-term contracts and showing no significant change in their stance on spot sales, despite some adjusting their spot quotes downwards. The day's trading didn't witness any substantial shift in purchasing attitudes among cathode manufacturers, who remain covered for most orders through long-term and customer-supplied agreements. The volatility in futures prices prompted a wait-and-see approach from some cathode companies, with a majority still anticipating a drop in prices to procure lower-cost supplies.

Conclusion: On March 15th, the lithium carbonate market reflected a cautious equilibrium, with futures experiencing a slight decrease and spot prices maintaining their ground amidst ongoing adjustments. The balance between long-term contracts and spot market dynamics, along with the cautious optimism from cathode manufacturers regarding future pricing trends, underscores the intricate dance between supply stability and demand anticipation in the lithium market.

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

Futures market Market forecast 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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