Prices of Lithium Carbonate Stabilised at the End of April due to Speculative Demand

SHANGHAI, May 16 (SMM) - The average monthly price of battery-grade lithium carbonate was 192,895 yuan/mt in April, down 39% month-on-month, and the suppliers were reluctant to ship cargoes in late April amid the increasing speculative sentiment.

In April 2023, the prices of lithium carbonate continued to decline. The spot trades were slightly sluggish in the early stage but improved somewhat later. At first, the spot prices dropped rapidly because the poor end demand prevented the downstream companies from purchasing and the traders resorted to underselling. It is not until the end of the month that the lithium carbonate prices ran steadily. This was because the widening spread between industrial-grade and battery-grade lithium carbonate led to a surge in demand for the former, but the lithium salt factories in Jiangxi held their quotes firm amid raw material shortage and salt lake-based producers also refrained from selling. In the end, traders took the opportunity to speculate, and lithium carbonate prices stopped falling but stabilised.