LiCarbonate Daily - Market Update for May 13

Published: May 13, 2024 16:39

Source: SMM

Save

On May 13, lithium carbonate futures fell 2.15% to 107,100 yuan/ton (~14,813.28 USD/ton). The battery-grade index dropped to 109,586 yuan/ton (~15,157.12 USD/ton).

Today's lithium carbonate market continued its downward trend, impacting both futures and spot prices.

Futures Contracts: The main lithium carbonate 2407 contract dropped by 2.15%. It opened at 107,550 yuan per ton (~14,875.52 USD/ton) and closed at 107,100 yuan per ton (~14,813.28 USD/ton), with a trading volume of 129,937 contracts and an open interest of 198,230 contracts, up by 1,936 contracts from the previous day. Prices initially fell after the market opened but then recovered slightly, remaining stable until the close, ultimately finishing the day down.

Spot Prices: The SMM battery-grade lithium carbonate index stood at 109,586 yuan per ton (~15,157.12 USD/ton), down by 1,286 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 (~15,366.53 USD/ton), reflecting an increase of 2,904 yuan. Industrial-grade lithium carbonate prices ranged from 106,000 to 107,500 yuan per ton, with an average of 106,800 yuan per ton (~14,771.78 USD/ton), down by 1,900 yuan.

Market Insights: The lithium carbonate market maintained the downward momentum from last Friday. Many lithium salt companies continued to adopt a conservative pricing strategy for scattered orders, with some adjusting prices slightly in response to market sentiment. Some downstream cathode companies made small scattered purchases in response to the price drop, resulting in a slight increase in overall market transaction volume. However, many downstream enterprises remain pessimistic about short-term prices and continue to adopt a wait-and-see approach.

* 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 Output 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

9 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

9 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.

9 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.

9 hours ago