LiCarbonate Daily - Market Update for May 21

Published: May 21, 2024 17:37

Source: SMM

Save

On May 21, lithium carbonate futures closed at 106,700 yuan/ton (~14,902.23 USD/ton). The battery-grade index fell to 106,796 yuan/ton (~14,915.64 USD/ton).

Market Overview: On May 21, the lithium carbonate market remained relatively stable, with minor fluctuations in both spot and futures prices. The main 2407 futures contract showed minimal change, while spot prices saw a slight decrease.

Spot Market:

Battery-Grade Lithium Carbonate:

SMM index: 106,796 yuan per ton (~14,915.64 USD/ton), down by 228 yuan from the previous day.

Price range: 104,000 - 109,800 yuan per ton, with an average price of 106,900 yuan per ton (~14,930.17 USD/ton), down by 200 yuan.

Industrial-Grade Lithium Carbonate:

Price range: 101,000 - 104,000 yuan per ton, with an average price of 102,500 yuan per ton (~14,315.64 USD/ton), down by 200 yuan.

Futures Market: The main lithium carbonate 2407 contract opened at 106,300 yuan per ton (~14,846.37 USD/ton) and closed at 106,700 yuan per ton (~14,902.23 USD/ton). The trading volume was 186,216 contracts, and open interest decreased by 6,212 contracts to 178,009. After a slight decline in the morning, prices rose sharply, briefly touching a high of 109,450 yuan per ton before stabilizing and maintaining a flat trend until the close.

Looking Forward:

Production and Sales:

While some lithium salt producers continue to avoid quoting prices and selling scattered orders, others have reduced their quotes to align with market expectations, resulting in a slight downward shift in price focus.

Purchasing Behavior:

Following yesterday's slight price increase, downstream buyers reduced their inquiries and purchases today, leading to sparse market activity.

Some downstream enterprises are considering their procurement strategies based on June's overall industry production schedule. With long-term contract negotiations approaching in June, many buyers remain cautious and are adopting a wait-and-see approach for spot purchases.

* 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 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

24 mins ago

[SMM Hydrogen Cost] 20260324

24 mins ago

30 mins ago

[SMM PV News] France's CRE Proposes Rule Changes to Boost Solar-Plus-Storage

France's energy regulator, CRE, has proposed rule changes for solar installations over 100 kWp to encourage solar-plus-storage projects. Submitted to the Lévy-Tuot task force, the adjustments aim to align renewables with grid needs, improve public spending, and combat solar 'cannibalization' and negative pricing by revising the premium mechanism and risk-sharing.

30 mins ago

15 hours ago

BAIC R&D Unveils High-Performance Sodium-Ion Battery Prototypes with Industry-Leading Specs

SMM learned that BAIC R&D recently announced the successful development of sodium-ion battery prototypes. The first prismatic battery pack using prismatic battery cells achieved an energy density exceeding 170 Wh/kg, placing it in the industry’s top tier. It also supports 4C ultra-fast charging, enabling recharging in 11 minutes. Its temperature-range adaptability and safety performance are outstanding, with stable operation across an ultra-wide range from -40°C to 60°C, energy retention above 92% at -20°C, and no risk of thermal runaway under extreme scenarios. At present, this sodium-ion battery has completed sample finalization, established mass-production processes for prismatic products, and filed 20 patents around core technologies. BAIC has also leveraged this to complete a full technology roadmap covering lithium batteries, solid-state batteries, and sodium-ion batteries, and has mastered a complete set of core sodium-ion battery technologies.

15 hours ago