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LiCarbonate Daily - Market Update for May 14

iconMay 14, 2024 17:56
On May 14, lithium carbonate futures fell 2.05% to 105,000 yuan/ton (~14,502.76 USD/ton). The battery-grade index dropped to 109,232 yuan/ton (~15,087.29 USD/ton).

Market Overview: On May 14, the lithium carbonate market experienced a continued decline across both spot and futures markets. The main 2407 futures contract dropped by 2.05%, while spot prices for battery-grade and industrial-grade lithium carbonate also fell.

Spot Market:

  • Battery-Grade Lithium Carbonate:
    • SMM index: 109,232 yuan per ton (~15,087.29 USD/ton), down by 354 yuan from the previous day.
    • Price range: 107,000 - 111,500 yuan per ton, with an average price of 109,250 yuan per ton (~15,089.78 USD/ton), down by 500 yuan.
  • Industrial-Grade Lithium Carbonate:
    • Price range: 105,500 - 106,500 yuan per ton, with an average price of 106,000 yuan per ton (~14,640.88 USD/ton), down by 750 yuan.

Futures Market: The main lithium carbonate 2407 contract opened at 106,750 yuan per ton (~14,744.48 USD/ton) and closed at 105,000 yuan per ton (~14,502.76 USD/ton). Trading volume reached 214,774 contracts, and open interest increased by 692 contracts to 198,922. Prices were stable in the morning session but dropped significantly in the afternoon before partially recovering.

Looking Forward:

  • Production and Sales:
    • Many lithium salt producers remain cautious about selling scattered orders, although they have slightly lowered their selling price expectations.
  • Purchasing Behavior:
    • Some downstream cathode producers report their procurement targets are still below the current market prices, but there have been small purchases at lower prices.
    • Several downstream enterprises indicate sufficient lithium carbonate inventories, acquired at lower prices, and plan to rely on stable long-term agreements for their monthly raw material needs, showing no immediate intent to replenish spot inventories.

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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

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