LiCarbonate Daily - Market Update for May 21

Published: May 21, 2024 17:37

Source: SMM

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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.

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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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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.

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