LiCarbonate Daily - Market Update for June 5

Published: Jun 05, 2024 17:31 (GMT+8)

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On June 5, lithium carbonate futures fell 2.44% to 99,800 yuan/ton (~13,782.76 USD/ton). The battery-grade index dropped to 101,729 yuan/ton (~14,048.35 USD/ton).

Market Summary: On June 5, the lithium carbonate market continued its downward trend, with the main 2407 futures contract falling by 2.44%. The futures opened at 101,900 yuan per ton and closed at 99,800 yuan per ton. The trading volume was 122,591 contracts, and open interest increased by 47 contracts to 168,133.

Spot Market Overview:

Battery-Grade Lithium Carbonate:

SMM index: 101,729 yuan per ton (~14,048.35 USD/ton), down by 1,732 yuan from the previous day.

Price range: 99,500 - 104,500 yuan per ton, with an average price of 102,000 yuan per ton (~14,085.39 USD/ton), down by 1,800 yuan.

Industrial-Grade Lithium Carbonate:

Price range: 97,300 - 99,300 yuan per ton, with an average price of 98,300 yuan per ton (~13,577.49 USD/ton), down by 1,700 yuan.

Market Dynamics:

Futures Performance: The main 2407 futures contract opened at 101,900 yuan per ton and experienced a downward trend, briefly touching an intraday low of 99,250 yuan per ton before stabilizing. In the afternoon, it continued to decline slightly, ultimately closing down by 2.44%.

Spot Market Activity: The market remained sluggish, with limited trading activity. Some upstream lithium salt producers adjusted their spot prices in response to market sentiment, leading to a downward shift in price focus. Downstream enterprises remained cautious about spot purchases, preferring long-term agreements for stability due to significant price fluctuations. Their price expectations continued to decrease.

Looking Forward:

Production and Sales:

Upstream producers are continuously adjusting their pricing strategies in response to market conditions, resulting in lower spot prices.

Purchasing Behavior:

Downstream buyers are cautious about spot purchases, relying on long-term agreements for stability and showing limited interest in current spot prices due to ongoing price volatility.

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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

Inventory Futures market Market review 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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