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LiCarbonate Daily Insights - April 12th Edition

iconApr 12, 2024 18:36
Today's lithium carbonate market saw a minor decline with the SMM index at 112,124 yuan/ton (~15,486.74 USD/ton) and futures closing down 0.49%, reflecting subtle market shifts.

Market Overview: A Subtle Downward Adjustment

Today's lithium carbonate market experienced a modest decline, with the SMM battery-grade lithium carbonate index dropping to 112,124 yuan/ton (~15,486.74 USD/ton), a decrease of 192 yuan. The price range for battery-grade lithium carbonate adjusted slightly, spanning from 111,500 yuan/ton (~15,400.55 USD/ton) to 114,000 yuan/ton (~15,745.86 USD/ton), settling at an average of 112,750 yuan/ton (~15,573.20 USD/ton), down by 500 yuan/ton. Similarly, industrial-grade lithium carbonate prices moved within a range of 108,800 yuan/ton (~15,027.62 USD/ton) to 110,500 yuan/ton (~15,262.43 USD/ton), with the average slightly decreasing to 109,600 yuan/ton.

The slight reduction in prices can be attributed to a mixed market response. While most lithium salt producers maintained firm pricing on spot orders, a few reported a slight decrease in transaction prices for spot sales, indicating a lack of surplus supply beyond long-term contracts this April. This scarcity, compounded by futures deliveries and market trades, implies a still-tight supply scenario for spot circulating stocks.

Futures Market Dynamics: Minor Fluctuations

The lithium carbonate (2407) main futures contract saw a slight decrease of 0.49%. It opened at 111,050 yuan/ton (~15,338.40 USD/ton) and closed at 112,200 yuan/ton (~15,497.24 USD/ton). The trading volume was recorded at 126,606 lots, with open interest decreasing by 1,714 lots to 178,440 lots. The trading day featured initial gains followed by losses, stabilizing with minor fluctuations before a significant drop towards the close.

Downstream Demand and Market Sentiments

Downstream sectors, such as cathode producers, reported that recent adjustments in prices by some lithium salt producers and traders have increased their purchasing enthusiasm. The market's strong reception for lower-priced supplies suggests robust demand at these levels, even as the overall transaction price center shifted downward slightly.

Reflections and Moving Forward

Today's market activities underscore a cautiously optimistic approach among buyers, reacting to slight price relaxations with increased purchasing activities. Despite the overall downward trend, the strong underlying demand for lithium carbonate continues to support market dynamics. As the industry adjusts to these subtler price movements, stakeholders remain vigilant, monitoring supply constraints and demand shifts to navigate the evolving lithium market landscape effectively. ​

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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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