LiCarbonate Daily - June 11

Published: Jun 11, 2024 17:56 (GMT+8)

Source: SMM

Save

On June 11, lithium carbonate futures fell 3.72% to 97,000 yuan/ton (~13,379.31 USD/ton). The battery-grade index dropped to 100,136 yuan/ton (~13,811.86 USD/ton).

Market Summary: On June 11, the lithium carbonate market experienced a significant decline, with the main 2407 futures contract falling by 3.72%. The futures opened at 100,000 yuan per ton (~13,793.10 USD/ton) and closed at 97,000 yuan per ton (~13,379.31 USD/ton). The trading volume was 104,245 contracts, and open interest decreased by 2,504 contracts to 152,300.

Spot Market Overview:

Battery-Grade Lithium Carbonate:
- SMM index: 100,136 yuan per ton (~13,811.86 USD/ton), down by 816 yuan from the previous day.
- Price range: 98,200 - 102,500 yuan per ton, with an average price of 100,350 yuan per ton (~13,841.38 USD/ton), down by 825 yuan.
Industrial-Grade Lithium Carbonate:
- Price range: 95,500 - 97,500 yuan per ton, with an average price of 96,500 yuan per ton (~13,310.34 USD/ton), down by 850 yuan.

Market Dynamics:

Futures Performance: The main 2407 futures contract opened at 100,000 yuan per ton, initially rose, but then declined steadily throughout the day, closing down by 3.72%.
Spot Market Activity: The spot market prices continued to weaken. As the fundamental outlook for June remains weak, more upstream lithium salt producers have lowered their spot prices and adjusted their psychological selling prices. Although the number of inquiries and quotes in the market has improved compared to previous periods, actual purchasing sentiment from downstream buyers remains subdued. Most downstream enterprises are only making purchases based on long-term agreements and still find the current prices higher than their expectations. This has resulted in a general downward shift in the focus of spot transaction prices.

Looking Forward:

Production and Sales:
- Upstream producers are increasingly lowering spot prices and adjusting selling expectations due to weak market fundamentals.
Purchasing Behavior:
- Downstream buyers remain cautious, with most purchases based on long-term agreements. High inventory levels and price expectations continue to influence their purchasing decisions, leading to limited activity in the spot market.

* 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 for 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

3 hours ago

Solid-State Battery Next Decade Series, Part 4 of 9: Will It Be Crushed Under the Wheels of PV-Style Industry-Wide Involution? [SMM Analysis]

[SMM Analysis: Solid-State Battery Next Decade Series 9, Part 4: Will It Be Dragged Under the Wheels of PV-Style Industry-Wide Involution?] Solid-state batteries will not face PV-style industry-wide involution in the short term: unconsolidated technology routes, high capital barriers, and yields of only 50%-60% serve as firewalls. From 2027 to 2029, there will be phased risks, including pilot-line surplus and localized price wars on the equipment side; after 2030, if technology routes consolidate, leading capacity is released, and demand growth slows, industry-wide involution could emerge, with intensity likely lower than in PV but with slower market exit. Given the lessons learned from PV, the solid-state battery industry is fully capable of avoiding involution.

3 hours ago

6 hours ago

MIIT Unveils 15th Five-Year Plan: Boost Safety, Performance in Consumer, NEV, and ESS Batteries

The Ministry of Industry and Information Technology (MIIT) and six other departments jointly issued the New-type Battery Industry Development 15th Five-Year Plan. The plan proposes to improve energy density, power density, and cycle life through process optimization, material upgrades, and structural innovation. It calls for developing high-safety consumer electronics lithium batteries, improving the safety, fast-charging performance, low-temperature adaptability, lightweight design, and energy density of power batteries for NEVs and electric vessels, and developing high-safety, large-capacity, grid-forming, ultra-long cycle life ESS batteries.

6 hours ago

Optimize Lithium Battery Industry, Enhance Coastal Urban Agglomerations, and Advance Manufacturing Clusters

The Ministry of Industry and Information Technology and seven other departments jointly issued the 15th Five-Year Plan for New-Type Battery Industry Development. It proposes optimizing the layout of the lithium battery industry in accordance with the principles of regional agglomeration and concentration of main entities. It guides various regions to leverage their comparative advantages and achieve differentiated and specialized coordinated development. It consolidates and enhances the role of the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area as driving forces for high-quality development, better leverages the role of coastal urban agglomerations such as Guangdong-Fujian-Zhejiang, and accelerates the cultivation of advanced manufacturing clusters for new-type batteries. Relying on the industrial foundations of the Yangtze River Economic Belt, the Yellow River Basin, and the Northeast region, it promotes the strengthening, supplementation, quality improvement, and upgrading of the new-type battery industry chain. Based on the resources of the central and western regions, it enhances the resilience of the new-type battery industry chain.

6 hours ago