LiCarbonate Daily - April 10th Update

Market Overview and Trends:

The SMM battery-grade lithium carbonate index saw a significant increase to 112,624 yuan/ton (~15,577.32 USD/ton), up by 1,053 yuan. Battery-grade lithium carbonate prices ranged between 112,000 yuan/ton (~15,491.01 USD/ton) and 114,500 yuan/ton (~15,836.79 USD/ton), with an average of 113,200 yuan/ton (~15,656.98 USD/ton), marking an increase of 1,250 yuan/ton. Industrial-grade lithium carbonate prices varied between 108,500 yuan/ton (~15,006.92 USD/ton) and 111,500 yuan/ton (~15,421.85 USD/ton), with the average reaching 110,000 yuan/ton (~15,216.87 USD/ton), up by 1,500 yuan/ton.

This rise reflects firm pricing sentiment among lithium salt producers, with most companies raising their quotations amidst a tight supply of lower-priced circulating stocks. Despite reliance on long-term contracts and designated supplies, the spot price increase has led to just-in-time purchasing strategies among downstream enterprises, pushing the transaction price center higher.

Futures Market Movement:

The lithium carbonate (2407) main futures contract continued its upward trend with a 2.02% rise, opening at 114,850 yuan/ton (~15,885.20 USD/ton) and closing at 115,950 yuan/ton (~16,037.34 USD/ton). The trading volume reached 180,964 lots, with open interest slightly increasing by 400 lots to 184,304 lots. The substantial rise at the opening was followed by steady fluctuations and a slight decline after the midday opening, ultimately closing up by 2.02%.

Concluding Insights:

The lithium carbonate market today demonstrates a continued upward trend in both spot and futures markets, underscored by strong pricing sentiment and ongoing supply tightness. Despite the general increase, downstream enterprises exhibit cautiousness towards high-priced lithium carbonate, maintaining strategic purchasing to manage supply needs effectively. Stakeholders are closely monitoring these market adjustments, particularly in light of the balanced but robust supply and demand dynamics shaping the market's trajectory. ​

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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