LiCarbonate Daily - Market Update for May 23

Published: May 23, 2024 17:16

Source: SMM

Save

On May 23, lithium carbonate futures closed at 106,150 yuan/ton (~14,641.38 USD/ton). The battery-grade index fell to 106,272 yuan/ton (~14,658.21 USD/ton).

Market Overview: On May 23, the lithium carbonate market experienced a slight decline in both spot and futures prices. The main 2407 futures contract fell by 0.70%, while spot prices saw a moderate decrease.

Spot Market:

Battery-Grade Lithium Carbonate:

SMM index: 106,272 yuan per ton (~14,658.21 USD/ton), down by 455 yuan from the previous day.

Price range: 104,000 - 109,000 yuan per ton, with an average price of 106,500 yuan per ton (~14,689.66 USD/ton), down by 400 yuan.

Industrial-Grade Lithium Carbonate:

Price range: 101,000 - 103,400 yuan per ton, with an average price of 102,200 yuan per ton (~14,096.55 USD/ton), down by 300 yuan.

Futures Market: The main lithium carbonate 2407 contract opened at 105,400 yuan per ton (~14,537.93 USD/ton) and closed at 106,150 yuan per ton (~14,641.38 USD/ton). The trading volume was 120,764 contracts, and open interest decreased by 6,980 contracts to 173,259. Prices initially rose slightly after the market opened, remained stable until the end of the morning session, and then declined in the afternoon before a slight recovery, ultimately closing down by 0.70%.

Looking Forward:

Production and Sales:

Some lithium salt producers continue to hold firm on prices and are reluctant to sell scattered orders.

The increasing availability of marketable supplies has strengthened downstream buyers' bearish sentiments and cautious attitudes.

Purchasing Behavior:

While some downstream enterprises continue to buy spot goods at lower prices, others report high inventory levels and an expected increase in lithium carbonate supplies in June. This has led to reduced market activity and a focus on depleting existing stocks.

* 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 SMM price price of metal metal prices Energy Storage EV New Energy 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

21 hours ago

In January, national passenger car producers' new energy wholesale estimates reached 900,000 units, up 1% YoY.

According to the latest data from the Passenger Car Association, in December 2025, producers with new energy wholesale sales exceeding 10,000 units accounted for 93% of the total wholesale sales of passenger NEVs that month. Based on preliminary January data, these producers achieved sales of 830,000 units in January. As most producers have already locked in their major sales figures, by applying the structural proportion from the previous month to the current month's data, the estimated wholesale sales of passenger NEVs nationwide in January were 900,000 units. According to comprehensive preliminary monthly association data: the estimated wholesale sales of NEVs by national passenger car producers in January 2026 were 900,000 units, up 1% YoY.

21 hours ago

CAAM: In 2025, 476,000 complete vehicles were imported, down 32.4% YoY.

据中国汽车工业协会整理的海关总署数据显示，2025年12月，汽车整车进口3.0万辆，环比下降30.4%，同比下降56.1%；进口金额14.7亿美元，环比下降23.6%，同比下降52.5%。2025年，汽车整车进口47.6万辆，同比下降32.4%；进口金额236.4亿美元，同比下降39.7%。

21 hours ago

Canada Announces New EV Strategy, to Collaborate with China

According to CCTV News, on February 5, Canadian Prime Minister Mark Carney announced a new electric vehicle strategy, including the reinstatement of car purchase subsidies, and stated that Canada will cooperate with China to promote the local production and export of EVs in Canada. According to a statement released by the Prime Minister's Office of Canada, the country will make full use of existing and newly established trade agreements, including a recently reached EV cooperation agreement with China, to facilitate large-scale investment in this sector, diversify Canada’s automotive export markets, and position Canada as one of the global leaders in the electric vehicle industry.

21 hours ago