[SMM Analysis] November LCO Price and Supply-Demand Analysis

Published: Dec 10, 2024 11:12

Source: SMM

Save

Price side, the average price of LCO (4.4V) in November was 140,500 yuan/mt, down 3.4% MoM and 37% YoY.

Price side, the average price of LCO (4.4V) in November was 140,500 yuan/mt, down 3.4% MoM and 37% YoY. Raw material side, the price of battery-grade lithium carbonate rebounded in November, while the price of Co3O4 continued to decline, leading to significant fluctuations in raw material prices. Nevertheless, due to the strong desire to bargain down prices from downstream battery cell manufacturers, the actual transaction prices of LCO in the market did not show significant changes and continued to fluctuate downward.

Supply side, LCO production in November increased by 4% MoM, mainly to meet rigid demand. The operating rate of top-tier enterprises remained high, with stable production plans and high market concentration. Demand side, due to the limited release of new digital 3C products at year-end, downstream enterprises were cautious in their procurement activities and had weak stockpiling intentions, maintaining only necessary safety inventory. Therefore, LCO production is expected to slightly decrease in December, and prices will continue to fluctuate downward.

Market forecast Market review

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 to learn 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

2 hours ago

[SMM New Energy] Gotion High-Tech Secures Upstream Supply with Three Lithium Mines in Yichun

Gotion High-Tech informed investors that it has established three lithium mining operations in Yichun, Jiangxi, achieving full vertical integration from ore mining and refining to battery-grade lithium carbonate production. This strategic layout is designed to guarantee a stable long-term supply of raw materials and optimize procurement costs. On the sales front, the company negotiates product pricing directly with downstream customers to mitigate the impact of market fluctuations.

2 hours ago

[SMM New Energy] Shanshan Shares Restructuring Plan Submitted: Control May Shift to Anhui SASAC

Shanshan Shares released an update on March 3 regarding its controlling shareholder's restructuring. The administrator submitted the draft restructuring plan for Shanshan Group and Ningbo Pengze Trading on February 28, following the fourth creditors' meeting held on March 2. The voting period is set to conclude on April 15, 2026. According to the signed investment agreement, if the plan is approved and executed, the actual controller of Shanshan Shares is expected to change to the Anhui Provincial State-owned Assets Supervision and Administration Commission (SASAC). This marks a potential state-led takeover for the leading lithium-ion battery material supplier after entering court-mandated restructuring in early 2025.

2 hours ago

[SMM New Energy] Shunbo Alloy Anhui Phase II Focuses on Battery Foil to Meet ESS and EV Demand

Chongqing Shunbo Aluminum Alloy (Shunbo Alloy) has announced that its Anhui Phase II project will prioritize aluminum plate and strip products for battery foil blanks, battery casings, 3C products, and green packaging. The company highlights that these sectors align with the rapid growth of new energy vehicles (NEVs) and new energy storage systems (ESS). The project includes a 630,000-ton/year low-carbon aluminum alloy flat ingot line and a 50,000-ton/year high-performance aluminum plate and strip line. Production and sales are projected to scale from 120,000 tons in 2026 to 400,000 tons by 2028.

2 hours ago