LiCarbonate Daily Jun 6

Published: Jun 6, 2024 23:47

Source: SMM

Save

On June 6, lithium carbonate futures rose 0.80% to 101,150 yuan/ton (~13,951.72 USD/ton). The battery-grade index fell to 101,172 yuan/ton (~13,954.76 USD/ton).

Headline Figures:

Futures:

Opening Price: 100,300 yuan/ton (~13,834.48 USD/ton)

Closing Price: 101,150 yuan/ton (~13,951.72 USD/ton)

Daily Change: +0.80%

Volume: 95,005 contracts

Open Interest: 159,275 contracts (decreased by 8,858 contracts)

Spot Market:

Battery-Grade:

SMM Index: 101,172 yuan/ton (~13,954.76 USD/ton)

Price Range: 99,300 - 103,500 yuan/ton

Average Price: 101,400 yuan/ton (~13,986.21 USD/ton)

Daily Change: -600 yuan

Industrial-Grade:

Price Range: 96,500 - 98,800 yuan/ton

Average Price: 97,600 yuan/ton (~13,462.07 USD/ton)

Daily Change: -650 yuan

Market Trends:

Futures Performance: The main 2407 futures contract experienced a downward trend in the morning but rebounded in the afternoon due to bullish market forces, closing up by 0.80%.

Spot Market Activity: Some lithium salt producers slightly lowered their quotes, but the price reductions were minimal, and prices remained concentrated near higher levels, reflecting a firm pricing sentiment. Downstream cathode manufacturers remained cautious about purchasing due to the risk of inventory value decline if prices continue to fall. This led to limited purchasing activity and a slight overall decline in spot prices.

Market Insights:

Upstream Producers:

Minimal adjustments to quotes were observed, reflecting firm pricing attitudes among lithium salt producers.

Downstream Buyers:

Cautious purchasing behavior continues, driven by concerns over potential further price drops and their impact on inventory values. Most buyers prefer to wait for more stable market conditions.

Conclusion: The lithium carbonate market remains in a state of cautious optimism, with slight gains in futures and minimal activity in the spot market. Both upstream and downstream players are navigating a challenging landscape, balancing price expectations with market realities.

* 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 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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

11 hours ago

BAIC R&D Unveils High-Performance Sodium-Ion Battery Prototypes with Industry-Leading Specs

SMM learned that BAIC R&D recently announced the successful development of sodium-ion battery prototypes. The first prismatic battery pack using prismatic battery cells achieved an energy density exceeding 170 Wh/kg, placing it in the industry’s top tier. It also supports 4C ultra-fast charging, enabling recharging in 11 minutes. Its temperature-range adaptability and safety performance are outstanding, with stable operation across an ultra-wide range from -40°C to 60°C, energy retention above 92% at -20°C, and no risk of thermal runaway under extreme scenarios. At present, this sodium-ion battery has completed sample finalization, established mass-production processes for prismatic products, and filed 20 patents around core technologies. BAIC has also leveraged this to complete a full technology roadmap covering lithium batteries, solid-state batteries, and sodium-ion batteries, and has mastered a complete set of core sodium-ion battery technologies.

11 hours ago

12 hours ago

L&F Secures KRW 1.6 Trillion LFP Cathode Supply Deal with Samsung SDI

According to a regulatory filing on the 24th, L&F announced that it signed a mid- to long-term supply agreement for lithium iron phosphate (LFP) cathode materials with Samsung SDI on the 23rd. The contract is valued at KRW 1.6067 trillion, equivalent to approximately 84.23% of L&F’s recent annual revenue of KRW 1.9074 trillion. The supply will primarily target North America, including the United States, with the contract period running from March 30 through Dec. 31, 2029.

12 hours ago

Toyota to Invest $1 Billion in Kentucky and Indiana, Advance Battery Production Plans

On March 23 (local time), Toyota announced plans to invest $800 million in its Kentucky plant to prepare for a second battery electric vehicle (BEV) production line and expand capacity for the Camry and RAV4. The company will also invest $200 million across two facilities in Indiana to increase production of the Grand Highlander SUV, while advancing parallel efforts related to battery manufacturing.

12 hours ago