LiCarbonate Daily Insights - April 11th Edition

Published: Apr 11, 2024 17:32

Source: SMM

Save

Today's lithium carbonate market remained stable with the SMM index at 112,316 yuan/ton (~15,513.26 USD/ton), while futures dropped by 3.06%, reflecting cautious market optimism.

Market Pulse: Stability Amid Adjustments

Today's lithium carbonate market shows a nuanced equilibrium with the SMM battery-grade lithium carbonate index at 112,316 yuan/ton (~15,513.26 USD/ton), a slight decrease of 308 yuan. Despite this, battery-grade lithium carbonate prices remained stable, spanning 112,000 yuan/ton (~15,469.61 USD/ton) to 114,500 yuan/ton (~15,814.92 USD/ton), with an unwavering average of 113,250 yuan/ton (~15,642.27 USD/ton). The industrial-grade segment mirrored this steadiness, holding its ground with prices between 108,500 yuan/ton (~14,986.19 USD/ton) and 111,500 yuan/ton (~15,400.55 USD/ton), averaging at 110,000 yuan/ton (~15,193.37 USD/ton).

This general stability persists amidst firm pricing sentiment among lithium salt producers, most maintaining their quoted prices with only a few adjusting downwards, suggesting a strong market demand for more competitively priced lithium carbonate stocks from downstream sectors, such as cathode manufacturers, who are gradually increasing their purchasing volumes.

Futures Market Dynamics: A Downward Adjustment

The lithium carbonate (2407) main futures contract took a different path, experiencing a 3.06% decrease. Opening at 115,600 yuan/ton (~15,966.85 USD/ton) and settling at 112,500 yuan/ton (~15,538.67 USD/ton), the contract's trading volume stood at 195,122 lots, with open interest decreasing by 4,150 lots to 180,154 lots. This movement marks a period of correction, showcasing initial volatility followed by a stabilization towards the close.

Refreshing Perspectives: Adapting to Market Sentiments

The day's trading underscores a delicate balance where spot market prices remain steady against a backdrop of selective downstream purchasing, highlighting a preference for competitively priced lithium carbonate amidst broader market adjustments. This scenario reflects a trend of cautious optimism and strategic purchasing as stakeholders navigate through fluctuating price signals and supply-demand dynamics, emphasizing the importance of monitoring both supply-side sentiments and downstream purchasing patterns in understanding the market's direction amidst changing economic landscapes.

* You can subscribe to LiCarbonate Daily and it will be sent to your email daily; To subscribe, simply send an email to me : robinhe@smm.cn *

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

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

17 hours ago

[SMM Analysis] V-Shaped Rebound Followed by High-Level Fluctuations, Tight Balance Persists

17 hours ago

[SMM Analysis] Monthly Summary of Lithium Carbonate Market – July 2026

17 hours ago

SMM Daily Review: 3 August – Spot Lithium Carbonate Continues to Fall

[SMM Daily Review: 3 August – Spot Lithium Carbonate Continues to Fall] Today, SMM’s spot price for battery-grade lithium carbonate continued to fall compared with the previous working day. The lithium carbonate 2609 contract opened lower today at 137,500 yuan per tonne; following the opening, it fluctuated lower and quickly dipped, touching a low of 135,600 yuan per tonne; Subsequently, long positions drove a volatile rebound, with the price fluctuating around the moving average line during the morning session; as the morning session drew to a close, long positions intensified, propelling the price to rapidly break through the 140,000 yuan mark and surge to 140,800 yuan per tonne. In the afternoon, the price retreated amid selling pressure from short positions and profit-taking, and consolidated within a narrow range of 138,800–139,000 yuan per tonne towards the close, eventually closing down 1.15% at 138,900 yuan per tonne, with open interest decreasing by 3,474 contracts. In the spot market, as it was the first working day of the month, downstream material manufacturers began dispatching goods under long-term contracts and for customer orders; spot buyers remained cautious, purchasing only on an as-needed basis when prices were relatively low. Upstream lithium salt producers continued to maintain their willingness to support prices for spot sales, with the focus at the start of the month on ensuring supply through long-term contracts and contract volume increases. Overall, the level of activity in market enquiries and actual transactions declined somewhat.

17 hours ago