LiCarbonate Daily - Market Update for May 20

Published: May 20, 2024 18:12

Source: SMM

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On May 20, lithium carbonate futures closed at 106,000 yuan/ton (~14,660.94 USD/ton). The battery-grade index rose to 107,024 yuan/ton (~14,799.72 USD/ton).

Market Overview: On May 20, the lithium carbonate market saw mixed activity, with the main 2407 futures contract showing little change, while spot prices experienced minor fluctuations. The main contract opened at 107,600 yuan per ton and closed at 106,000 yuan per ton. The trading volume was 123,219 contracts, and open interest decreased by 390 contracts to 184,221.

Spot Market:

Battery-Grade Lithium Carbonate:

SMM index: 107,024 yuan per ton (~14,799.72 USD/ton), up by 142 yuan from the previous day

Price range: 104,000 - 110,000 yuan per ton, with an average price of 107,000 yuan per ton (~14,799.45 USD/ton), unchanged from the previous day

Industrial-Grade Lithium Carbonate:

Price range: 101,200 - 104,200 yuan per ton, with an average price of 102,700 yuan per ton (~14,207.20 USD/ton), up by 200 yuan.

Futures Market: The main lithium carbonate 2407 contract opened at 107,600 yuan per ton (~14,880.33 USD/ton) and closed at 106,000 yuan per ton (~14,660.94 USD/ton). After a slight decline in the morning, prices remained stable for the rest of the day, ultimately showing no significant change.

Looking Forward:

Production and Sales:

Some lithium salt producers continue to follow their previous sales strategies, maintaining high prices for scattered orders due to production costs and inventory considerations.

Sellers did not lower their prices further, reflecting today's market sentiment.

Purchasing Behavior:

Downstream buyers received higher quotes from the market and traders but did not make significant purchases due to ample inventories, long-term contracts, and customer-supplied materials.

Some downstream companies expect prices to weaken in the future and are currently adopting a wait-and-see approach.

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