NANOCMS Partners With China’s DR Group on Battery Materials Business

[SMM Daily Review: Spot Lithium Carbonate Prices Drifted Lower on July 24] SMM battery-grade lithium carbonate spot prices drifted lower compared with the previous working day. In the futures market, the lithium carbonate 2609 contract opened lower at 144,200 yuan/mt today, drifted lower after opening, moved sideways below the average price line (143,800 yuan/mt) in the morning, and hit a low of 141,300 yuan/mt; around midday, bulls and bears repeatedly struggled in the 141,000–144,000 yuan/mt range, with trading volume increasing in stages; in the afternoon, bulls briefly exerted strength, pushing the price to surge to 145,800 yuan/mt, before it encountered bearish selling pressure and drifted lower. The contract then consolidated at lows around 144,300 yuan/mt in the late session, finally closing down 0.88% at 144,300 yuan/mt. Open interest decreased by 13,209 lots. In the spot market, downstream purchase willingness moderated, with purchasing mainly as needed; upstream lithium chemical plants continued to hold prices firm and hold back from selling for spot orders, trading more with downstream through long-term contracts. Overall, market inquiries and actual transactions relatively slowed down.

July 24 News: North China ports: 46% Australian lumps at 41.5-42 yuan/mtu, down WoW; South African semi-carbonate at 34.7-35.2 yuan/mtu, down WoW; Gabonese at 39.3-39.7 yuan/mtu, down WoW; South African high-iron at 29-29.5 yuan/mtu, down WoW; South African medium-iron at 36-36.5 yuan/mtu, stable WoW. South China ports: 46% Australian lumps at 42.9-43.4 yuan/mtu, down WoW; South African semi-carbonate at 36.7-37 yuan/mtu, down WoW; Gabonese at 40.9-41.4 yuan/mtu, stable WoW; South African high-iron at 31.5-32 yuan/mtu, down WoW; South African medium-iron at 37.5-38 yuan/mtu, stable WoW. Manganese ore market prices continue to grind lower, end-use demand remains tepid, and trader sell-offs at reduced prices are relatively common.