LiCarbonate Daily - Market Update for May 27

Published: May 27, 2024 17:28

Source: SMM

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On May 27, lithium carbonate futures fell 0.75% to 106,200 yuan/ton (~14,672.76 USD/ton). The battery-grade index decreased slightly to 106,267 yuan/ton (~14,672.76 USD/ton).

Market Summary: On May 27, the lithium carbonate market experienced a slight decline, with the main 2407 futures contract falling by 0.75%. The futures opened at 107,600 yuan per ton and closed at 106,200 yuan per ton, reflecting a decrease. The trading volume was 95,800 contracts, and open interest increased by 2,763 contracts to 171,639.

Spot Market Overview:

Battery-Grade Lithium Carbonate:

SMM index: 106,267 yuan per ton (~14,672.76 USD/ton), down by 26 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.

Market Dynamics:

Futures Performance: The main 2407 futures contract saw a steady decline throughout the day, opening lower and maintaining the downward trend before a slight recovery at the close, ultimately finishing down by 0.75%.

Spot Market Activity: The spot market remained quiet, continuing the trend from last week. Many upstream lithium salt producers chose not to quote or sell at the end of the month, maintaining high price expectations.

Looking Forward:

Production and Sales:

Upstream producers are holding firm on prices, with a reluctance to quote or sell scattered orders, preferring to maintain price stability.

Purchasing Behavior:

Most downstream cathode manufacturers showed little interest in purchasing spot goods due to high inventory levels and an expected increase in supply in June. This lack of purchasing interest contributed to minimal price fluctuations in the market.

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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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