LiCarbonate Daily - June 11

Published: Jun 11, 2024 17:56

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

13 mins ago

Energy Storage Battery Cells in Second-Life Application Market Remain Firm, Ternary Small- and Medium-Capacity Cells Continue to Decline [SMM Weekly Review]

This week, the second-life battery market was generally stable, with continued divergence among categories. Prices of ternary small-to-medium capacity second-life battery cells continued to decline, while other categories remained basically stable, and market transactions were relatively sluggish. On the cost side, lithium carbonate prices consolidated this week with repeated ups and downs; cobalt sulphate experienced a significant decline, and nickel sulphate prices edged down, weakening the overall raw material cost support. On the supply side, battery cell manufacturers maintained the previous sluggish shipments, with only long-term contract orders shipped normally, and low willingness to sell for spot orders. Some traders, impacted by financial pressure and market expectations, had a strong sentiment to sell off inventory. Meanwhile, dismantled materials continued to be diverted to the recycling side, with no significant increase in actual circulating supply in the second-life battery market, but the pricing logic for dismantled materials has gradually moved closer to the recycling side. On the demand side, downstream pressure to push for lower prices continued to increase, with acceptability of high prices being constantly lowered. Under the pressure from the demand side, prices of ternary small-to-medium capacity battery cells continued to decline. Under the current market landscape, only battery cells in the ESS sector remain relatively firm, while battery cells applicable to the conventional small power market will continue to remain under pressure in the short term.

13 mins ago

35 mins ago

Game Continues, Graphitisation Tolling Services Prices Stabilize, Awaiting Increase [SMM Lithium Battery Anode Raw Material Weekly Review]

[China Lithium Battery Anode Raw Material Market Weekly Review: Game Continues, Graphitisation Tolling Services Prices Temporarily Stable and Await Upturn] August 20 News: This week, the China graphitisation tolling services market overall maintained a sideways trend, with limited room for quotation fluctuations among various enterprises, and the price center changed relatively little.

35 mins ago

40 mins ago

Sodium-ion Battery Industry Insight: Key Paths to Industrialisation and Evolution of Pricing Mechanisms [SMM Analysis]

[SMM Analysis: Sodium-Ion Battery Industry Insight: Key Paths to Industrialisation and Evolution of Pricing Mechanisms] SMM August 20: The sodium-ion battery industry is at a delicate time window — low lithium battery prices have compressed the substitution space for sodium-ion batteries, while the scaling effect of sodium-ion batteries themselves has yet to materialise. However, gathering core judgments from battery cell manufacturers, material suppliers, academia, and standard-setting bodies, the industry has released a clear signal: sodium-ion batteries are not a question of "whether to do it," but rather "how to do it right.

40 mins ago