【SMM Analysis】Pre-holiday stockpiling triggers price increase button: A review of this week's lithium carbonate spot price trends (2024.09.23-2024.09.27)

Published: Sep 29, 2024 18:02

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This week (2024.09.23-2024.09.27), the spot lithium carbonate market saw a significant upward shift in transaction price center. The SMM battery-grade lithium carbonate index price rose from 73,351 yuan/mt to 75,057 yuan/mt, an increase of 1,706 yuan/mt. This week coincided with the pre-National Day inventory period for downstream material plants, with overall inquiry and purchasing demand being relatively optimistic. After the holiday, with stable demand and potentially reduced supply, considering that lithium carbonate inventory levels remain high, it is expected that spot lithium carbonate prices will continue to fluctuate within a range.

This week (2024.09.23-2024.09.27), the spot lithium carbonate market saw a significant upward shift in transaction price center. The SMM battery-grade lithium carbonate index price rose from 73,351 yuan/mt to 75,057 yuan/mt, an increase of 1,706 yuan/mt. The low range for battery-grade lithium carbonate increased from 73,000 yuan/mt to 74,700 yuan/mt, and the high range from 75,000 yuan/mt to 76,400 yuan/mt, with the average price rising from 74,000 yuan/mt to 75,550 yuan/mt, an increase of 1,550 yuan/mt. The low range for industrial-grade lithium carbonate rose from 69,700 yuan/mt to 71,000 yuan/mt, the high range from 70,000 yuan/mt to 71,800 yuan/mt, and the average price from 69,850 yuan/mt to 71,400 yuan/mt, an increase of 1,550 yuan/mt.

This week was the pre-holiday inventory period for downstream material plants, with overall inquiries and purchasing demand being optimistic. Coupled with a reduction in supply from some customers, the demand for lithium carbonate from downstream showed a continuous upward trend. Driven by positive market sentiment, lithium chemical smelters generally raised their prices. Spot market prices for lithium carbonate rose significantly.

As the downstream inventory period came to an end, purchasing sentiment gradually faded. However, some material plants with reduced customer supply still faced raw material shortages, so purchasing sentiment did not decline significantly, and spot transaction prices for lithium carbonate continued to rise slightly.

With the National Day holiday approaching, and considering stable demand and potentially reduced supply after the holiday, along with high inventory levels of lithium carbonate, spot prices for lithium carbonate are expected to fluctuate within a range.

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