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LiCarbonate Daily - April 8th Update

iconApr 8, 2024 17:16
Today's lithium carbonate market saw the SMM index rise to 111,565 yuan/ton (~15,430.84 USD/ton), with futures up 1.07% and spot prices increasing by 800 yuan.

Market Overview and Trends:

The SMM battery-grade lithium carbonate index has risen to 111,565 yuan/ton (~15,430.84 USD/ton), marking an increase of 911 yuan/ton from the previous working day. The prices for battery-grade lithium carbonate were between 110,200 yuan/ton (~15,242.05 USD/ton) and 113,500 yuan/ton (~15,698.48 USD/ton), with an average price reaching 111,850 yuan/ton (~15,470.26 USD/ton), up by 800 yuan/ton. Similarly, industrial-grade lithium carbonate saw its prices ranging from 107,000 yuan/ton (~14,799.45 USD/ton) to 109,000 yuan/ton (~15,076.07 USD/ton), with the average price at 108,000 yuan/ton (~14,937.76 USD/ton), an increase of 1,000 yuan/ton from the last trading day.

This rise in lithium carbonate prices is driven by a noticeable reluctance among smelting enterprises to sell spot orders, leading to an overall tightness in spot market circulating stocks. The supply tightness, coupled with low inventory levels at salt lake companies and a slower recovery pace among recycled lithium salt enterprises, has strengthened price support sentiment, making supplies of quasi-battery grade and industrial-grade lithium carbonate even more scarce.

Futures Market Movement:

The lithium carbonate (2407) main contract experienced a 1.07% rise, opening at 112,500 yuan/ton (~15,560.17 USD/ton) and closing at 113,500 yuan/ton (~15,698.48 USD/ton). The trading volume was recorded at 178,332 lots, with open interest increasing by 728 lots to 183,798 lots. The day’s price action saw a significant upward movement after opening, reaching a high of 115,350 yuan/ton (~15,954.36 USD/ton) before experiencing minor fluctuations and a slight downward correction.

Concluding Insights:

Today's lithium carbonate market demonstrates a positive adjustment, with both spot and futures markets showing an upward trend in prices. The ongoing supply-demand pressures, characterized by supply tightness and cautious purchasing strategies from downstream enterprises, are driving the market dynamics. Stakeholders are closely monitoring these evolving trends for strategic positioning in a market that continues to adjust to global lithium demand and supply challenges.

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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

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