LiCarbonate Daily Jun 6

Published: Jun 6, 2024 23:47

Source: SMM

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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.

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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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