LiCarbonate Daily Update - April 30th

Published: Apr 30, 2024 17:20

Source: SMM

Save

Today's lithium carbonate market saw a rise, with the SMM index climbing to 111,624 yuan/ton (~$15,417.68 USD/ton), while futures dropped by 2.15% to 111,450 yuan/ton.

Market Overview and Price Movements:

The lithium carbonate market saw a significant change today. The SMM battery-grade lithium carbonate index rose by 748 yuan to 111,624 yuan/ton (~$15,417.68 USD/ton). Battery-grade lithium carbonate prices ranged from 110,000 yuan/ton (~$15,193.37 USD/ton) to 113,500 yuan/ton (~$15,676.80 USD/ton), with an average price of 111,750 yuan/ton (~$15,435.08 USD/ton). Industrial-grade lithium carbonate prices moved between 108,500 yuan/ton (~$14,986.19 USD/ton) and 110,000 yuan/ton (~$15,193.37 USD/ton), averaging at 109,300 yuan/ton (~$15,096.69 USD/ton).

Supply Dynamics and Industry Response:

Many lithium salt producers raised their prices this morning, responding to a market that saw increased transaction prices with trade firms. Despite these price increases, downstream cathode producers report adequate stock levels from prior purchases, showing no urgency for new acquisitions and a cautious outlook on buying amid higher prices. This has led to a stagnant pre-holiday buying atmosphere, with trading firms more actively adjusting to the price changes.

Futures Market Trends:

The futures market contrasted sharply with the spot market. The lithium carbonate (2407) main futures contract fell by 2.15%, starting at 116,000 yuan/ton (~$16,022.10 USD/ton) and closing at 111,450 yuan/ton (~$15,393.65 USD/ton). The volume was high at 242,267 lots, but open interest dropped significantly, indicating a cooling interest among traders.

Market Sentiments and Future Outlook:

As the spot market shows signs of price stability and slight increases, the futures market's decline reflects broader concerns about future demand post-holiday. The market is currently navigating these mixed signals, assessing how shifts in buying behavior and policy impacts might influence future demand and pricing strategies. The dynamic between spot stability and futures volatility will be crucial for market participants as they plan their strategies moving forward.

* 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 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 to learn 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

3 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

3 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

3 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

3 hours ago