LiCarbonate Daily - April 1st

Published: Apr 1, 2024 17:15

Source: SMM

Save

Today's lithium carbonate market saw the futures contract (2407) rise by 4.36% to close at 112,600 yuan/ton, while spot prices remained stable at an average of 109,750 yuan/ton.

Spot Market Overview:

In the spot market, the battery-grade lithium carbonate prices demonstrated stability, with quotes ranging between 107,500 and 112,000 yuan/ton. The average price remained steady at 109,750 yuan/ton, showing no change from the previous working day. This steadiness indicates a balanced supply-demand dynamic in the immediate term, even as the broader market eyes future developments.

Futures Market Movement:

The futures market witnessed more pronounced activity with the main contract of lithium carbonate (2407) experiencing a significant upswing. The contract opened at 107,100 yuan/ton and made a notable ascent to close at 112,600 yuan/ton, marking a 4.36% increase. The trading volume reached 273,984 lots, with open interest increasing to 200,099 lots, an upturn of 3,286 lots from the prior session. This bullish trend in futures contrasts with the stability seen in the spot market, pointing towards speculative optimism or anticipations of tighter supply in the future.

Market Indices and Price Stability:

The SMM battery-grade lithium carbonate index slightly declined by 10 yuan/ton from the previous day to 108,807 yuan/ton. Despite this marginal decrease, the broader market, encompassing both battery-grade and industrial-grade lithium carbonate, held its ground. Average prices for these categories were reported at 109,700 yuan/ton and 104,700 yuan/ton, respectively, remaining unchanged and signifying market stability.

Concluding Analysis:

The day's market activities in both the spot and futures segments reflect the complex interplay of immediate supply-demand dynamics and future market expectations. While the spot market maintains stability, underscored by steady demand and consistent pricing, the futures market's bullish trend suggests anticipations of a tightening supply or increasing demand in the coming periods. The release of goods by a major salt lake producer at higher market prices also hints at underlying pressures that could influence pricing strategies and market sentiment moving forward. As these dynamics unfold, stakeholders in the lithium carbonate market will need to stay alert to both current conditions and future signals to navigate the market effectively.

If you have any questions regarding the recent movement of lithium carbonate market (e.g. what caused it and 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

Inventory 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 for 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

3 hours ago

New-generation Li L6 launched, priced at RMB 249,800

On July 16, Li Auto launched the new-generation Li L6 with a unified national retail price of RMB 249,800. Retaining the spaciousness and dimensional advantages of its predecessor, the new model has been upgraded in core experience dimensions including comfort, handling, intelligence and driving range, with intelligent systems as a key focus of the upgrade. It is equipped with Li Auto’s self-developed Mach M100 smart driving chip, Qualcomm Snapdragon 8797 cockpit chip and a 29-inch 6K panoramic display. A dual Mach M100 embodied AI package is available as an optional extra, bringing it on par with the RMB 500,000 flagship Li L9 in terms of hardware specifications with chips of the same generation. In terms of power, the battery capacity of the new-generation Li L6 has been raised from 37kWh to 51kWh, lifting its CLTC pure electric range from 212 km to 300 km, while charging from 20% to 80% SoC takes only 12 minutes.

3 hours ago

GAC Group's 30-millionth complete vehicle rolls off the production line

On July 16, GAC Group announced its 30 millionth finished vehicle rolled off the production line, which is the overseas version of M8 PHEV. Following FAW Group, SAIC Motor, Dongfeng Motor and Changan Automobile, GAC becomes China’s fifth automotive conglomerate to hit the 30-million-unit production milestone. GAC Group stated that the output of 30 million vehicles represents the choice and trust of 30 million household customers. Statistics show the group sold 144,866 vehicles in June, down 3.47% year-on-year; cumulative sales for the year reached 773,085 units, a year-on-year increase of 2.35%.

3 hours ago

China's sales of power and energy storage batteries rose 49.1% year-on-year in June.

On July 16, the China Automotive Battery Industry Innovation Alliance released monthly data on power batteries for June 2026. China’s combined sales of power and energy storage batteries reached 196.0 GWh in June, rising 7.6% month-on-month and 49.1% year-on-year. Power battery sales stood at 133.4 GWh, accounting for 68.1% of total sales, up 5.0% month-on-month and 41.8% year-on-year. Energy storage battery sales hit 62.6 GWh, making up 31.9% of the total, with a 13.4% month-on-month increase and a 67.5% year-on-year surge. From January to June, cumulative sales of power and energy storage batteries nationwide totaled 979.4 GWh, growing 48.6% year-on-year. Cumulative power battery sales reached 661.3 GWh (67.5% of the aggregate), climbing 36.2% year-on-year. Cumulative energy storage battery sales were 318.1 GWh (32.5% of the aggregate), jumping 83.4% year-on-year.

3 hours ago