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LiCarbonate Daily - June 18

iconJun 18, 2024 19:18
On June 18, lithium carbonate futures fell 3.63% to 92,800 yuan/ton (~12,782.37 USD/ton). The battery-grade index dropped to 97,064 yuan/ton (~13,369.70 USD/ton).

Market Summary: On June 18, the lithium carbonate market experienced a significant decline, with the main 2407 futures contract falling by 3.63%. The futures opened at 96,500 yuan per ton (~13,292.01 USD/ton) and closed at 92,800 yuan per ton (~12,782.37 USD/ton). The trading volume was 119,713 contracts, and open interest decreased by 5,812 contracts to 115,233.

Spot Market Overview:

Battery-Grade Lithium Carbonate:

SMM index: 97,064 yuan per ton (~13,369.70 USD/ton), down by 422 yuan from the previous day.

Price range: 95,000 - 99,300 yuan per ton, with an average price of 97,150 yuan per ton (~13,381.54 USD/ton), down by 450 yuan.

Industrial-Grade Lithium Carbonate:

Price range: 91,800 - 93,800 yuan per ton, with an average price of 92,800 yuan per ton (~12,782.37 USD/ton), down by 600 yuan.

Market Dynamics:

Futures Performance: The main 2407 futures contract opened at 96,500 yuan per ton and immediately fell, maintaining a downward trend throughout the day and closing down by 3.63%.

Spot Market Activity: Spot prices continued to decline. Some upstream lithium salt producers adjusted their spot prices downward and followed market trends for sales, while others remained cautious and did not quote prices for spot transactions. Downstream cathode manufacturers showed no interest in purchasing spot goods at current price levels and maintained a bearish outlook, focusing on inventory control and waiting for further price drops. Overall, spot transaction prices have decreased.

Looking Forward:

Production and Sales:

Upstream producers are adjusting their spot prices but remain cautious about large-scale spot sales.

Purchasing Behavior:

Downstream buyers are not actively purchasing spot goods and maintain a wait-and-see approach, expecting further price declines. The market remains under downward pressure with limited demand.

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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

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