LiCarbonate Daily - Market Update for May 10

Today's lithium carbonate market continued to decline sharply, reflecting a bearish sentiment across futures and spot prices.

Futures Contracts: The main lithium carbonate 2407 contract dropped by 3.13%. It opened at 111,900 yuan per ton (~15,498.61 USD/ton) and closed at 108,350 yuan per ton (~15,006.93 USD/ton), with a trading volume of 202,809 contracts and an open interest of 195,326 contracts, up by 1,936 contracts from the previous day. Prices plummeted immediately after the market opened and continued to decline until the morning session ended. After the lunch break, prices initially dipped before recovering slightly, but ultimately still finished the day down.

Spot Prices: The SMM battery-grade lithium carbonate index stood at 110,872 yuan per ton (~15,356.23 USD/ton), down by 318 yuan from the previous working day. Spot prices for battery-grade lithium carbonate were in the range of 109,700 to 112,500 yuan per ton, averaging 111,100 yuan per ton (~15,387.81 USD/ton), reflecting a decline of 400 yuan. Industrial-grade lithium carbonate prices ranged from 107,800 to 109,500 yuan per ton, with an average of 108,700 yuan per ton (~15,055.40 USD/ton), down by 450 yuan.

Market Insights: The lithium carbonate market continued its downward trend from the previous day. Many lithium salt companies reported that scattered order sales remained low and that most of their sales came from long-term agreements. Some downstream cathode companies stated that current prices are still higher than their procurement expectations. With high long-term agreement coverage and client-supplied volumes, they have no intention of purchasing at the reduced prices from certain lithium salt companies and traders, maintaining a cautious attitude.

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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