Home / Metal News / LiCarbonate Daily - Market Update for May 28

LiCarbonate Daily - Market Update for May 28

iconMay 28, 2024 18:36
Source:SMM
On May 28, lithium carbonate futures fell 1.69% to 105,000 yuan/ton (~14,525.97 USD/ton). The battery-grade index dropped to 106,087 yuan/ton (~14,637.71 USD/ton).

Market Summary: On May 28, the lithium carbonate market continued its downward trend, with the main 2407 futures contract falling by 1.69%. The futures opened at 107,300 yuan per ton and closed at 105,000 yuan per ton. The trading volume was 114,804 contracts, and open interest decreased by 1,120 contracts to 170,519.

Spot Market Overview:

Battery-Grade Lithium Carbonate:

SMM index: 106,087 yuan per ton (~14,637.71 USD/ton), down by 180 yuan from the previous day.

Price range: 104,000 - 108,600 yuan per ton, with an average price of 106,300 yuan per ton (~14,678.76 USD/ton), down by 200 yuan.

Industrial-Grade Lithium Carbonate:

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

Market Dynamics:

Futures Performance: The main 2407 futures contract opened slightly lower and maintained stability until a sharp decline after the afternoon session, closing down by 1.69%.

Spot Market Activity: Spot prices saw a slight decrease. Some upstream sellers lowered their quotes, while downstream buyers showed low interest in purchasing spot goods due to high inventory levels and sufficient long-term agreements and customer supplies. A few downstream enterprises completed transactions at lower prices, but most continued to reduce their spot purchase price expectations.

Looking Forward:

Production and Sales:

Upstream producers slightly reduced their prices but remained cautious about selling scattered orders.

Purchasing Behavior:

Downstream buyers, faced with high inventories and abundant supplies from long-term agreements, continued to show low interest in spot purchases. Some transactions were made at lower prices, but overall market activity remained subdued.

* 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

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All