Market Overview and Price Movements:

The lithium carbonate market remained stable today, with the SMM battery-grade lithium carbonate index slightly increasing by 48 yuan to 110,762 yuan/ton (~$15,277.52 USD/ton). The price range for battery-grade lithium carbonate held steady, from 109,500 yuan/ton (~$15,103.45 USD/ton) to 113,000 yuan/ton (~$15,586.21 USD/ton), with an average price of 111,250 yuan/ton (~$15,344.83 USD/ton). Similarly, industrial-grade lithium carbonate prices remained unchanged, ranging from 107,000 yuan/ton (~$14,758.62 USD/ton) to 109,500 yuan/ton (~$15,103.45 USD/ton), with an average price of 108,200 yuan/ton (~$14,924.14 USD/ton).

Supply Dynamics and Downstream Demand:

This morning, lithium salt producers continued their firm pricing approach, with overall spot sale prices showing little change, although some individual producers raised their selling prices. Downstream cathode manufacturers reported that due to prior low-price purchases to replenish stocks, there is currently no urgency to follow the price increases by trading companies. Most are waiting for more favorable pricing opportunities or the depletion of existing inventories before making necessary purchases, resulting in a quiet spot transaction environment overall.

Futures Market Trends:

The lithium carbonate (2407) main futures contract saw a rise of 1.33%. It opened at 109,800 yuan/ton (~$15,144.83 USD/ton) and closed at 110,400 yuan/ton (~$15,227.59 USD/ton). Trading activity was robust, with volume reaching 179,713 lots and open interest increasing by 2,176 lots to 178,807 lots. The day began with prices initially rising then falling, followed by a steady climb into the early trading period. Post-midday, the contract experienced a slight dip before stabilizing and closing with a gain.

Market Sentiments and Strategic Adjustments:

Today's slight uptick in the futures market alongside the stability in spot prices indicates a cautious but steady market sentiment. Lithium salt producers are maintaining a strong stance on pricing amid stable demand, while downstream buyers are strategically managing their inventory levels and purchasing decisions. The market is navigating through these measured adjustments, with stakeholders closely watching price trends and supply dynamics as they plan their next moves in anticipation of future demand shifts.

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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