According to the monitoring of the Commodity Market Analysis System of the Business Society, the prices of industrial grade and battery grade lithium carbonate have stopped rising this week and are now undergoing a correction. On October 26th, the average domestic mixed price of industrial grade lithium carbonate was 160600 yuan/ton, a decrease of 4.18% compared to the average price of 167600 yuan/ton on October 22nd. On October 26th, the average domestic mixed price of battery grade lithium carbonate was 173000 yuan/ton, a decrease of 4% compared to the average price of 180200 yuan/ton on October 22nd.
By observing market changes, it can be seen that after a wave of recovery in lithium carbonate prices last week, spot prices have once again stopped rising and retreated this week, and lithium carbonate futures prices have also continued to decline. On the supply side, after the price rebound, some lithium salt factories have marginal resumption of production. In addition, a certain salt lake in Qinghai may plan to concentrate sales again in the near future, the available supply of goods in the spot market is not as tight as expected, and the subsequent state of de inventory has also slowed down, further putting pressure on prices.
In terms of demand, the current terminal demand is still sluggish, and there is no significant improvement in the demand for lithium salt procurement in downstream positive electrodes, hexafluoride, and other links. There are few zero order transactions in the market, and some traders are under inventory pressure and want to exchange at low prices, resulting in significantly lower quotations. And some salt factories have also wavered in their attitude towards favoring prices, with some manufacturers’ quotations declining and the focus of market quotations and transactions declining. At present, the market still maintains an unprepared and unaffordable attitude towards high priced lithium salts, leading to a gradual decline in market focus and a downward trend in lithium salt prices.
The price of lithium hydroxide is showing a downward trend. Affected by the correction in lithium carbonate prices, the price of lithium hydroxide is following the downward trend. However, the current downstream demand is still weak, mainly in demand procurement, and there are few zero transactions, so the price continues to decline.
The downstream price of lithium iron phosphate has slightly decreased, with insufficient downstream demand and a cold purchasing atmosphere. The upstream cost side support is weak, and the overall market negotiation focus is low. Manufacturers mainly supply contract customers, and the number of new orders is limited.
In terms of futures, on October 26th, the opening price of the LC2401 contract for lithium carbonate futures on the Guangzhou Futures Exchange was 150350 yuan/ton, with a maximum price of 152600 yuan/ton, a daily decrease of 1.66%, with 3711000 transactions and 84140 positions.
Analysts from Business Society Lithium Carbonate believe that the current stalemate in the upstream and downstream of the industry chain is still ongoing, with few transactions in the downstream. The pessimism in the spot market has intensified. Against the backdrop of continued oversupply in the current market, prices continue to decline, and it is expected that lithium carbonate prices will experience weak fluctuations in the short term.
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