Lithium Futures Take a Modest Leap: On March 13th, the dance of lithium carbonate futures continued with a subtle yet positive step forward, marking a 0.38% increase. The spotlight was on the 2407 main contract, which, after opening at 121,200 yuan/ton, gracefully closed at 118,800 yuan/ton amidst a ballet of 341,890 transactions. Despite a slight dip in the audience with open interest down by 2,198 to 226,877, the performance hinted at underlying confidence.
Spotlight on Spot Prices: The stage for battery-grade lithium carbonate saw its own set of movements, with spot prices stretching from 109,000 to 113,000 yuan/ton, finally striking a pose at an average of 111,000 yuan/ton, up by 1,000 yuan/ton from the previous day. The lithium carbonate index mirrored this upward trend, ascending to 109,128 yuan/ton, a leap of 1,144 yuan/ton, indicating a market that continues to value the essence of lithium.
Supply Side En Pointe: While the lithium salt enterprises maintained their choreography of long-term contract sales, their solo performances in spot sales saw a rise, persisting in their firm pricing stance amidst a thinning crowd of low-priced offerings. Interestingly, the environmental tune in the Yichun area played differently for large and small lithium salt enterprises, with the former moving unhindered and the latter slightly out of rhythm due to maintenance and recovery pace. However, with the majority of lithium salt companies outside Yichun back in full production and the anticipated arrival of imported lithium carbonate, a steady recovery in supply is expected, though patience remains a virtue.
Downstream Demand’s Delicate Dance: Cathode manufacturers displayed a cautious approach to the lithium salt companies' heightened spot sales pitches, maintaining a necessity-driven purchase pattern despite a slowly elevating transaction price center. The market awaits the impact of lithium carbonate warehouse receipt cancellations at the Guangqi Exchange, which may introduce a new sequence to the supply rhythm.
Encore: As the lithium carbonate market continues its performance on March 13th with futures modestly ascending and spot prices marking their territory higher, the ensemble of supply adjustments and nuanced demand keeps the audience engaged. With the backdrop of steady recovery and strategic purchasing, the lithium market's ballet promises more intriguing acts to come.
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