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LiCarbonate Daily - Market Update for May 23

iconMay 23, 2024 17:16
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.

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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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