LiCarbonate Daily - Overview for March 22nd

Published: Mar 22, 2024 20:28

Source: SMM

Save

On March 22nd, lithium carbonate futures fell by 2.68% to 114,350 yuan/ton, while spot prices held at 112,550 yuan/ton, amid cautious purchasing and stable market sentiment.

Futures Contract Faces a Setback: On March 22nd, the lithium carbonate 2407 main contract experienced a significant decline of 2.68%, opening at 117,200 yuan/ton and closing at 114,350 yuan/ton. The trading day saw a volume of 243,895 with open interest dropping to 200,633, indicating a decrease of 7,390 from the previous session. The day's pricing dynamics showed an initial steady drop, a brief recovery after midday, followed by a sharp decline towards the close.

Spot Market Stability Amidst Futures Volatility: Despite the downturn in futures, spot prices for battery-grade lithium carbonate maintained consistency, quoted between 110,000 and 115,100 yuan/ton, with the average price remaining at 112,550 yuan/ton. The SMM battery-grade lithium carbonate index slightly decreased by 30 yuan to 111,632 yuan/ton. However, industrial-grade lithium carbonate saw a bit of positivity, with its average price increasing by 500 yuan to 108,000 yuan/ton.

Market Sentiment and Strategy: Lithium carbonate suppliers mostly kept their prices in line with the previous day, with a few traders slightly lowering their quotes. Despite this, downstream cathode and other industries continued their cautious approach towards purchasing battery-grade lithium carbonate, focusing on necessity-based acquisitions at lower prices and limited restocking efforts. This caution has led to a watchful atmosphere in the spot market, with overall prices remaining stable.

Concluding Insights: The lithium carbonate market on March 22nd presented a contrasting scenario of futures market pressure against a backdrop of relative spot market stability. The downward adjustment in futures contrasts with the steadfast spot pricing, underscoring the cautious optimism prevailing among market participants. With most stakeholders maintaining a watchful stance and prioritizing strategic purchases, the market reflects a balanced approach to navigating current uncertainties, indicating a careful progression towards equilibrium amidst fluctuating signals.

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 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.

For any inquiries or to learn 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

8 hours ago

QatarEnergy to Suspend Production of Certain Downstream LNG Products

QatarEnergy announced in a news release on its official website that, after deciding to halt production of liquefied natural gas (LNG) and its related products, the company will also suspend production of certain downstream products within Qatar, specifically including urea, polymers, methanol, and aluminum.

8 hours ago

11 hours ago

Solid-State Battery 202602： Rumors of Testing ; Multiple Enterprises Rapidly Rolled Out Pilot-Scale Validation

In February 2026, the solid-state battery industry accelerated its transition from pilot-scale trials to mass production, with sulphide electrolytes becoming the primary technological focus, and the national standard set to be released in July. Pilot lines such as those of Guoci Materials and Xinjie Energy were commissioned in rapid succession; 500 Wh/kg high-energy-density products were released one after another, and demand for dry-process electrode equipment surged.

11 hours ago

SMM Daily Review: Spot Lithium Carbonate Prices Fell Sharply on March 3

[SMM Daily Review: Spot Lithium Carbonate Prices Fell Sharply on March 3] The SMM battery-grade lithium carbonate index price fell sharply from the previous working day. Futures side, after the most-traded contract opened at 170,000 yuan/mt in the morning session, it fluctuated downward throughout the session and at one point touched the limit-down price of 150,800 yuan/mt. It then rebounded slightly and hovered around 154,000 yuan/mt, but weakened again after the midday session and ultimately stayed locked at limit-down through the close. Open interest in the most-traded contract fell by about 39,000 lots from the previous trading day. Actual transactions, upstream lithium chemical plants’ willingness to sell spot orders remained weak, with a clear sentiment to hold back sales. After prices fell rapidly in the morning, downstream material plants’ purchase willingness strengthened markedly, and most enterprises adopted a laddered order-placement strategy to buy on dips. Overall, market inquiries were active and transaction momentum increased significantly.

11 hours ago