LiCarbonate Daily - Market Update for May 24

Published: May 24, 2024 18:22 (GMT+8)

Source: SMM

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On May 24, lithium carbonate futures rose 2.28% to 107,600 yuan/ton (~14,861.88 USD/ton). The battery-grade index increased to 106,293 yuan/ton (~14,681.35 USD/ton).

Market Overview: On May 24, the lithium carbonate market saw an upward movement in futures prices, while spot prices remained stable. The main 2407 futures contract rose by 2.28%, reflecting a positive shift in market sentiment.

Spot Market:

Battery-Grade Lithium Carbonate:

SMM index: 106,293 yuan per ton (~14,681.35 USD/ton), up by 21 yuan from the previous day.

Price range: 104,000 - 109,000 yuan per ton, with an average price of 106,500 yuan per ton (~14,709.94 USD/ton), unchanged from the previous day.

Industrial-Grade Lithium Carbonate:

Price range: 101,000 - 103,400 yuan per ton, with an average price of 102,200 yuan per ton (~14,116.02 USD/ton), unchanged from the previous day.

Futures Market: The main lithium carbonate 2407 contract opened at 106,500 yuan per ton (~14,709.94 USD/ton) and closed at 107,600 yuan per ton (~14,861.88 USD/ton). The trading volume was 119,418 contracts, and open interest decreased by 4,383 contracts to 168,876. Prices initially dipped to a low of 105,900 yuan per ton but then rose steadily, maintaining the upward trend until the close, ultimately increasing by 2.28%.

Looking Forward:

Production and Sales:

Upstream producers continue to hold firm on prices, refraining from quoting and selling scattered orders. There are ongoing lithium carbonate tenders and auctions this week and next week to determine pricing.

Purchasing Behavior:

Downstream buying activity remained low, with purchases mainly through long-term agreements rather than spot buys. Trade companies also reported poor sales this week, with limited inquiries from downstream buyers.

Overall, lithium carbonate prices remained stable amid limited trading activity.

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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

Futures market Market review Output SMM price 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.

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