Lithium Carbonate Prices Stabilised at 468,000 yuan/mt, Refined Cobalt Prices Plummeted 7,500 yuan/mt within A Week

SHANGHAI, Jun 17 (SMM) - The SMM spot prices of domestic battery-grade lithium carbonate stabilised between 461,000-475,000 yuan/mt this week, averaging 468,000 yuan/mt.

The current domestic supply of lithium carbonate is stable, the quotations of major smelters are stable. Market transaction was thin in the middle of the month. On the demand side, purchases from MNC materials plants were thin despite improving demand. LFP plants restocked as needed.

The spot prices of refined cobalt entered a downward channel again this week after stabilised briefly on June 10. As of June 17, the spot price of refined cobalt fell to 415,000-435,000 yuan/mt, and the average price was 425,000 yuan/mt, down 7,500 yuan/mt from the beginning of the week, a drop of 1.7%.

The low-end prices were stable, in line with prices in the futures market. However, weak demand forced large producers to lower ex-factory prices, dragging down the high-end prices.