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LiCarbonate Daily - April 25th Edition

iconApr 25, 2024 18:11
Today's lithium carbonate market saw a slight rise with the SMM index reaching 111,176 yuan/ton (~$15,334.62 USD/ton) and futures dipping slightly by 0.86%.

Market Overview and Price Movements:

Today, the lithium carbonate market saw modest gains with the SMM battery-grade lithium carbonate index rising by 414 yuan to 111,176 yuan/ton ($15,334.62 USD/ton). Battery-grade lithium carbonate prices increased, ranging from 110,500 yuan/ton ($15,241.38 USD/ton) to 113,000 yuan/ton ($15,586.21 USD/ton), with the average price climbing by 500 yuan to 111,750 yuan/ton ($15,413.79 USD/ton). Industrial-grade lithium carbonate also experienced an uptick, with prices moving from 108,000 yuan/ton ($14,896.55 USD/ton) to 110,000 yuan/ton ($15,172.41 USD/ton), with the average rising by 750 yuan to 109,000 yuan/ton (~$15,034.48 USD/ton).

Supply Dynamics and Downstream Demand:

This morning, some lithium salt producers raised their prices for spot sales, maintaining a firm stance on pricing. Despite the higher prices, the majority of downstream cathode manufacturers reported no immediate interest in following the price rise due to prior purchases at lower rates and the fulfillment of long-term contract needs. Only a few engaged in necessary purchasing or made purchases based on later pricing, slightly elevating the market's price center.

Futures Market Trends:

The lithium carbonate (2407) main futures contract experienced a small decrease, falling by 0.86%. The contract opened at 110,500 yuan/ton ($15,241.38 USD/ton) and closed lower at 109,600 yuan/ton ($15,117.24 USD/ton). Trading volume was 158,133 lots, with open interest decreasing by 2,659 lots to 176,148 lots. The day's trading saw initial upward fluctuations followed by a significant drop mid-morning to the day's low at 108,400 yuan/ton (~$14,951.72 USD/ton), before it slightly recovered and stabilized until the close.

Market Sentiments and Strategic Adjustments:

The lithium market today reflects a mixed sentiment, with producers pushing for higher spot prices and many buyers taking a cautious approach, waiting out the market fluctuations. This dynamic suggests a market still adjusting to supply and demand factors, with potential volatility as buyers and sellers negotiate their positions. As the market navigates these conditions, stakeholders are closely monitoring pricing trends and inventory levels to align their strategies with evolving market dynamics. ​

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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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