LiCarbonate Daily - Market Update for May 9

Today’s lithium carbonate market continued to show a downturn in both futures and spot prices, reflecting subdued activity and market sentiment.

Futures Contracts: The main lithium carbonate 2407 contract declined by 0.76%. It opened at 112,500 yuan per ton (~15,560.17 USD/ton) and closed at 111,700 yuan per ton (~15,449.52 USD/ton), with a trading volume of 136,072 contracts and an open interest of 193,390 contracts, up by 2,426 contracts from the previous trading day. The prices dropped significantly after opening, reaching a low of 110,050 yuan per ton, then rebounded before falling again just before the close.

Spot Prices: The SMM battery-grade lithium carbonate index stood at 111,190 yuan per ton (~15,378.98 USD/ton), down by 419 yuan from the previous working day. Spot prices for battery-grade lithium carbonate ranged between 110,000 and 113,000 yuan per ton, with an average price of 111,500 yuan per ton (~15,421.85 USD/ton), down by 350 yuan. Industrial-grade lithium carbonate was priced between 108,400 and 109,800 yuan per ton, averaging 109,100 yuan per ton (~15,089.90 USD/ton), reflecting a drop of 300 yuan.

Market Insights: The lithium carbonate market continues to experience thin trading activity. Some lithium salt companies have slightly reduced their scattered order prices following market sentiment. Downstream cathode manufacturers reported that due to high lithium salt inventories and significant coverage of long-term contracts, they have no plans for scattered orders this week. The further decline in lithium carbonate prices has reinforced the cautious attitude among buyers.

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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