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

5 mins ago

SMM Daily Review: Spot lithium carbonate prices drifted lower on September 11

Today, SMM battery-grade lithium carbonate spot prices drifted lower compared with the previous working day. The lithium carbonate 2701 contract opened lower at 140,000 yuan/mt today. After the open, bulls briefly resisted, and the price shot up slightly to 140,400 yuan/mt. Subsequently, bearish pressure was released in a concentrated manner, and the price drifted lower, breaking below the average price line. Near midday, panic selling emerged, and the price accelerated its decline, hitting a low of 128,100 yuan/mt. In the afternoon, dip-buying entered at low levels, and the price gradually consolidated and rebounded, recovering part of the losses. Near the close, the price moved sideways around 135,000 yuan/mt, eventually closing down 4.99% at 134,800 yuan/mt, with open interest decreasing by 1,124 lots. In the spot market, as prices fell rapidly, downstream dip-buying and stockpiling willingness continued to strengthen. However, with upstream lithium chemical plants holding prices firm on spot orders and holding back from selling, the spot orders available in the market were limited. Overall, market inquiries were active, but actual transactions were relatively stable.

5 mins ago

1 hour ago

[Solid-State Battery: Nine Departments’ 15th Five-Year Plan Incorporates Automotive Solid-State Batteries into the Specialized Standards System, Accelerating the Supply of Cutting-Edge Technology Standards]

[Solid-State Battery: Nine Departments' 15th Five-Year Plan Incorporates Automotive Solid-State Batteries into Specialised Standards System, Accelerating Supply of Cutting-Edge Technology Standards] On 9 September 2026, the Ministry of Industry and Information Technology (MIIT) and eight other departments issued the 15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry (MIIT Joint Regulation Letter [2026] No. 305). In the task of "continuously improving the standards system," the Plan specifies the ongoing establishment and refinement of specialised standards systems for automotive chips, automotive software, automotive artificial intelligence, automotive solid-state batteries, and low-carbon development of automobiles. In the task of "accelerating the supply of cutting-edge cross-disciplinary standards," it further proposes accelerating the formulation of frontier technology standards for automotive artificial intelligence, cockpit-driving integration, solid-state batteries, distributed electric drive, fully active suspension, integrated driving units, and chassis fusion control. The Plan does not establish a separate special clause for the industrialisation of solid-state batteries; the relevant arrangements primarily focus on standards taking the lead, providing regulatory support for subsequent technological breakthroughs and large-scale application.

1 hour ago

[Storage: Anhui Normal University Li-Cl2 battery study published in Advanced Materials]

Researchers at Anhui Normal University, with Beijing Normal University and University of Science and Technology Beijing, published results on high-performance lithium-chlorine batteries in Advanced Materials. By tuning pore size in covalent organic framework materials from about 2.7 nm down to 0.9 nm, the team greatly enhanced chlorine confinement. The optimized microporous material achieved over 97% coulombic efficiency at high current density, 200 stable cycles at minus 20 degrees Celsius with 99% average efficiency, and high discharge capacity even at minus 40 degrees, offering a general design strategy for practical Li-Cl2 batteries.

1 hour ago