LiCarbonate Daily - Market Update for May 30

Market Summary: On May 30, the lithium carbonate market experienced a slight rise in futures prices, with the main 2407 futures contract increasing by 1.05%. The futures opened at 106,000 yuan per ton and closed at 104,900 yuan per ton (~14,468.97 USD/ton). The trading volume was 129,912 contracts, and open interest decreased by 4,257 contracts to 162,442.

Spot Market Overview:

Battery-Grade Lithium Carbonate:

SMM index: 105,797 yuan per ton (~14,592.69 USD/ton), down by 185 yuan from the previous day.

Price range: 104,000 - 108,000 yuan per ton, with an average price of 106,000 yuan per ton (~14,620.69 USD/ton), down by 200 yuan.

Industrial-Grade Lithium Carbonate:

Price range: 101,000 - 103,200 yuan per ton, with an average price of 102,100 yuan per ton (~14,082.76 USD/ton), down by 100 yuan.

Market Dynamics:

Futures Performance: The main 2407 futures contract opened stable, saw a slight dip, and then rose as bullish forces entered the market. Prices briefly touched a high of 107,750 yuan per ton before falling slightly, ultimately closing up by 1.05%.

Spot Market Activity: Trading in the spot market remained subdued. Some upstream lithium salt producers maintained high price expectations, while others slightly lowered their spot prices or adjusted pricing strategies to align with market expectations. Most downstream cathode manufacturers continued to show weak purchasing interest due to high inventory levels and increased supply expected in June. This led to a further decrease in market spot prices.

Looking Forward:

Production and Sales:

Upstream producers are maintaining firm pricing attitudes, though some have begun adjusting their quotes to match market conditions.

Purchasing Behavior:

Downstream buyers' interest in purchasing spot goods remains low, influenced by high inventories and anticipated increases in supply. Both futures and spot market activities are expected to remain muted in the near term.

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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