LiCarbonate Daily - March 28th

Spot Market Update:

On March 28th, the spot market for lithium carbonate remained stable. SMM reported that the price range for battery-grade lithium carbonate was 107,500-112,000 yuan per ton, with an average price of 109,750 yuan per ton, holding steady compared to the previous working day. Feedback from the industry indicated that there was a prevalent sentiment among lithium salt companies to maintain prices for spot transactions. Despite this, there were no significant changes in delivery prices compared to the previous day. Downstream companies, particularly cathode manufacturers, reported a trend of recent purchases by trading companies being for low-priced goods. Most trading companies were not acquiring high-priced spot goods from lithium salt companies, resulting in purchase prices similar to those of the previous day. Overall, the spot market transaction prices for lithium carbonate remained relatively stable.

Future Contract Analysis:

The main contract for lithium carbonate 2407 experienced a slight increase of 0.88% on March 28th. Data revealed that the main contract opened at 108,800 yuan per ton and closed at 108,500 yuan per ton, with a trading volume of 199,520 lots and an open interest of 199,818 lots, marking a decrease of 2,159 lots compared to the previous trading day. The day's trading pattern saw lithium carbonate prices sharply decline after the opening, followed by a rebound and rise until the early session concluded. Subsequently, after the midday session commenced, the main contract underwent a minor decline before stabilizing and oscillating steadily until the closing bell, ultimately recording a modest increase of 0.88%.

In conclusion, the lithium carbonate market exhibited stability in spot prices, with futures contracts recording a modest rise. Despite fluctuations, market sentiment suggests a balanced outlook.