The lithium carbonate market on March 12th demonstrated robust growth in futures while maintaining a steady increase in spot prices, reflecting an evolving market dynamic with sustained demand and cautious supply adjustments.
Futures Market Dynamics: The lithium carbonate 2407 main contract witnessed a significant rise of 4.13%, opening at 117,950 yuan/ton and closing at 119,850 yuan/ton. The day's trading volume stood at 369,891 lots, with open interest slightly decreasing by 474 to 229,075 lots. The market experienced minor fluctuations early on, with a slight increase by the end of the morning session, followed by a period of sideways movement. A substantial drop to a daily low of 116,600 yuan/ton occurred towards the end of the midday session, but was quickly followed by a sharp increase, concluding the day with a 4.13% gain.
Spot Market Overview: Spot prices for battery-grade lithium carbonate were quoted between 107,500 and 112,500 yuan/ton, with an average price of 110,000 yuan/ton, up by 750 yuan/ton from the previous day. The SMM battery-grade lithium carbonate index rose to 107,984 yuan/ton, marking an increase of 689 yuan/ton. Industrial-grade lithium carbonate saw prices ranging from 100,000 to 106,500 yuan/ton, with an average price of 103,200 yuan/ton, up by 1,750 yuan/ton.
Market Insights: The sentiment among lithium salt companies and downstream buyers, including cathode manufacturers, showed no significant change, with some lithium salt companies again raising their spot sale prices. However, the capacity of downstream buyers to absorb higher-priced supplies remains limited, and the market lacks additional low-priced offerings. Some downstream entities reported their long-term contracts, customer-supplied sources, and current lithium carbonate inventories could cover their consumption throughout March, continuing strategies of buying on dips or as needed, with a gradual increase in their acceptance of the overall market price center.
Conclusion: March 12th in the lithium carbonate market was marked by a substantial increase in futures and a steady rise in spot prices, indicating a market adjusting to the balance between supply caution and sustained demand. Despite the increase in prices, the strategic purchasing behaviors of downstream companies suggest a cautious optimism, with an eye towards balancing immediate needs against price sensitivity.
If you have any questions regarding the industry data (e.g. 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
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