LiCarbonate Daily - April 18th Edition

Published: Apr 18, 2024 17:18 (GMT+8)

Source: SMM

Save

Today's lithium carbonate market was stable with a minor decline, as the SMM index dropped to 110,825 yuan/ton (~$15,307.32 USD/ton), and futures fell by 0.73%.

Market Overview:

Today's lithium carbonate market showed general stability with a slight decrease in the SMM battery-grade lithium carbonate index to 110,825 yuan/ton ($15,307.32 USD/ton), down by 99 yuan. Battery-grade lithium carbonate prices remained constant, ranging from 110,000 yuan/ton ($15,193.37 USD/ton) to 113,000 yuan/ton ($15,607.73 USD/ton), with an average price holding steady at 111,500 yuan/ton ($15,400.55 USD/ton). Industrial-grade lithium carbonate also held steady, with prices between 107,800 yuan/ton ($14,889.50 USD/ton) and 109,500 yuan/ton ($15,124.31 USD/ton), averaging at 108,700 yuan/ton (~$15,013.81 USD/ton).

Supply and Demand Dynamics:

Lithium salt producers continued their cautious approach to spot sales, maintaining firm pricing despite the overall market stability. Downstream cathode manufacturers, having leveraged lower-priced sources through select lithium salt companies and trade markets, have decreased their purchasing volumes after preparing for the upcoming Labor's Day holiday, indicating that many have completed their stockpiling.

Futures Market Trends:

The lithium carbonate (2407) main futures contract experienced a minor decline, dropping by 0.73%. The contract opened at 109,900 yuan/ton ($15,179.56 USD/ton) and closed at 108,400 yuan/ton ($14,972.38 USD/ton), with trading volume standing at 131,581 lots and open interest reducing by 667 lots to 174,354 lots. The day began with a significant rise, peaking at 111,850 yuan/ton (~$15,448.90 USD/ton) before reversing to a downtrend, stabilizing with minor fluctuations towards the end of the trading session.

Implications and Market Sentiments:

The market is closely monitoring the interplay between supply chain constraints and fluctuating demand as stakeholders adjust their strategies. While the overall sentiment remains cautious, the persistent tightness in supply and strategic stockpiling by downstream players suggest a carefully balanced market, ready to respond to post-holiday demand fluctuations.

* 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

Inventory Futures market Market review Holiday Notice 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

Sep 25, 2026 15:16 (GMT+8)

[SMM News] Solis starts lithium drilling at Campo Grande

Solis Minerals has started diamond drilling at its Campo Grande Lithium Project in Brazil's Araçuaí-Salinas Lithium Valley. The company plans five holes totalling about 1,000 m, with planned depths of up to 200 m, to test lithium pegmatites across a 500 m corridor. The targets rest on coincident multi-element geochemical anomalies at surface and on historical auger drilling results. Historical work by Rio Tinto and later mapping and geochemical work by Solis defined the targets. Solis has also mapped a new pegmatite swarm of three coherent outcrop zones between planned holes DHCG-001 and DHCG-004. The program will test the continuity, geometry and lithium potential of the pegmatites beneath surface, starting where mapped pegmatites coincide with geochemical anomalies. Solis says Campo Grande's geology and geochemistry are comparable to PLS Group's Colina Lithium Project, about 100 km to the southwest. Separately, Solis has completed seven drill holes at its Mandacaru Lithium Project in Brazil, with assay results pending.

Sep 25, 2026 15:16 (GMT+8)

Sep 25, 2026 15:15 (GMT+8)

[SMM News] Charger re-commences drilling at Medcalf lithium deposit

Charger Metals has mobilized a second drill rig to its Lake Johnston Lithium Project in Western Australia as part of a 10,000 m program targeting resource growth. Diamond and reverse circulation rigs are now operating at the Medcalf lithium deposit, and RC drilling began just over a week ago. The program will double the meters drilled at Medcalf. The drilling targets extensions and infill at the Medcalf inferred mineral resource estimate of 10.6 Mt grading 1% Li₂O. Drilling has further defined the Medcalf West Exploration Target of 3-5 Mt at 1-1.4% Li₂O. The program also aims to provide diamond core for metallurgical and geotechnical test work. Following the recent Medcalf resource upgrade, which raised contained Li₂O by 34%, Charger's board has committed to a Scoping Study on the Lake Johnston Project. The current resource sits on a predominantly 40 m x 80 m drilling grid, including 10,936 m of drilling at a cost of $32 per tone of contained Li₂O. The program is fully funded from Charger's sale of the Bynoe Lithium Project to Core Lithium for $3.75 million cash, received on 17 July 2026. Lake Johnston lies 450 km east of Perth in the Yilgarn Province, about 70 km from the Earl Grey Lithium Project, where Covalent Lithium began mining and commissioning in March 2024.

Sep 25, 2026 15:15 (GMT+8)

Sep 25, 2026 15:14 (GMT+8)

[SMM News] Savannah raised over $40 million to develop the Portuguese lithium project

On September 23(rd), Savannah Resources raised US$30 million for its Barroso Lithium Project in Portugal, via 408 million shares at £0.055/share, including US$11.2 million from subscription agreements with major shareholders. Combined with US$15.5 million cash on hand, funds go toward long lead item fabrication, access road works, EPCM contracting, plant engineering, permitting, and land use rights. Barroso's July 2026 phase one DFS outlined a 14-year mine life at 183,000 t/y lithium oxide, 5.5% grade, based on US$1,788/t pricing yielding US$3.2 billion EBITDA, US$1.9 billion free cash flow, and US$913 million post-tax NPV. The deposit holds 39 million tones at 1.05% Li2O for 411,900 tones contained, Europe's largest hard-rock spodumene resource. The funding advances one of the few large-scale hard-rock lithium sources under development outside China linked African and South American supply chains, feeding EU critical raw material diversification targets.

Sep 25, 2026 15:14 (GMT+8)