Futures Contracts: The main lithium carbonate 2407 contract exhibited an upward trend, closing the day with a 1.70% increase. The contract opened at 113,000 yuan per ton (~15,650.97 USD/ton) and closed at 113,900 yuan per ton (~15,775.62 USD/ton), with a trading volume of 151,842 contracts and an open interest of 189,460 contracts, indicating an increase of 4,364 contracts from the previous trading day. The market demonstrated minimal volatility, mostly fluctuating around the daily average.

Spot Prices: The SMM battery-grade lithium carbonate index was reported at 111,686 yuan per ton (~15,468.98 USD/ton), marking an increase of 103 yuan from the previous working day. The spot prices for battery-grade lithium carbonate ranged between 110,200 and 113,500 yuan per ton, with an average price of 111,850 yuan per ton (~15,491.69 USD/ton), up by 100 yuan. Industrial-grade lithium carbonate was also active, priced between 108,800 and 110,000 yuan per ton, with the average settling at 109,400 yuan per ton (~15,152.35 USD/ton), reflecting a rise of 150 yuan.

Market Insights: Post-Labor Day, the lithium carbonate spot market has been relatively quiet. With the rise in early morning trading prices, some lithium salt manufacturers slightly increased their prices for scattered orders. However, downstream businesses like cathode manufacturers reported that they had preemptively stocked up during the lower price period in mid-to-late April, and currently, they do not have new procurement orders. Some are delaying their purchases to mid or late May, adopting a wait-and-see approach, which has resulted in subdued trading activities.

Looking Forward: There is an anticipation of a synchronized increase in domestic lithium carbonate imports in the near future, which could supplement the domestic supply and reinforce the cautious stance among some downstream sectors. Additionally, it is essential to keep an eye on environmental factors such as lithium slag in the Jiangxi region and their potential impact on local lithium salt production.

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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