LiCarbonate Daily - March 20th Insights

Published: Mar 20, 2024 17:21

Source: SMM

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On March 20th, lithium carbonate futures slightly increased by 0.99% to 117,200 yuan/ton, while spot prices remained stable at an average of 112,550 yuan/ton, indicating market equilibrium.

Futures Market Sees Mild Uptick: The lithium carbonate 2407 main contract recorded a modest increase of 0.99% on March 20th, initiating the day at 114,450 yuan/ton and concluding at 117,200 yuan/ton. The trading volume stood at 250,314 with open interest rising to 204,597, indicating a positive shift with an addition of 2,422 contracts. The day's price trajectory featured an initial rise, followed by a significant dip of 1.81%, before rebounding and maintaining an upward momentum until the close.

Spot Prices Hold Their Ground: In the spot market, battery-grade lithium carbonate prices remained stable between 110,000 and 115,100 yuan/ton, with the average price unchanged at 112,550 yuan/ton. The SMM battery-grade lithium carbonate index slightly dipped by 19 yuan to 111,357 yuan/ton, reflecting a stable market with no significant changes in overall spot quotations. Lithium salt companies showed steadiness in their spot sale prices, with minor adjustments noted among a few, aligning with the market's equilibrium.

Supply-Demand Dynamics: The morning session saw lithium salt companies maintaining stable spot quotes, with individual entities slightly reducing their prices, indicating a consistent pricing strategy without major shifts from previous trends. A fraction of cathode and other downstream companies engaged in minimal purchasing during the previous day's lower price window, opting to wait for potential declines today, suggesting an anticipation of a stable price center in the market.

Conclusion: The lithium carbonate market on March 20th showcased a blend of cautious optimism in the futures segment and steady equilibrium in spot prices. The day's market activity underscores a balanced interplay between supply stability and measured demand, with market participants navigating through minor price fluctuations with a focus on strategic procurement and pricing steadiness. The overall sentiment points towards a market attuned to subtle shifts, maintaining a vigilant stance on future price movements and supply-demand adjustments.

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 review Output SMM price price of metal metal prices Energy Storage 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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