SunSirs: Lithium Carbonate Faced another Downward Trend

https://www.chemnet.com   Oct 23,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the lithium carbonate market experienced a slight rebound and once again entered a downward trend. As of October 22, the average price of battery grade lithium carbonate was 79,000 RMB/ton, an increase of 1.54% from 77,800 RMB/ton at the beginning of the month and a decrease of 2.95% from 81,400 RMB/ton last week. The average price of industrial grade lithium carbonate was 76,400 RMB/ton, an increase of 1.6% from 75,200 RMB/ton at the beginning of the month, and a decrease of 3.05% from 78,800 RMB/ton last week.

Analysis review

Downstream was in a critical period of switching between peak and off peak seasons, and demand was approaching its peak

The production of batteries and positive electrodes in October is already in the latter half of the peak season, which means that market demand may have begun to show signs of slowing down. Although demand may remain strong in November, it is difficult to achieve further growth on the basis of October. This trend indicates that market demand is gradually reaching saturation point and may face downward pressure in the future.

Upstream lithium mine import increased, filling the gap in domestic mine reduction

The significant increase in Australian ore shipments in September, as well as the recent large-scale arrival of African ore at ports, had brought about a significant increase in lithium ore imports in October. This increment is expected to make up for the reduction in domestic mines, resulting in relatively sufficient supply at the mining end. As of October 22, there was no significant slowdown in the overall supply side. As the peak season gradually weakened, the performance of the demand side was facing challenges. The inventory was maintained at around 120,000 tons, and the turnover was not obvious. The price lacked upward driving force.

Market outlook

The lithium carbonate data analyst of SunSirs believes that under the situation of strong supply and weak demand, the rebound of the lithium carbonate market was weak, and the price will continue to operate weakly. Specific market dynamics and policy changes need to be closely monitored.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

 Print  |    add to Favorites  |    Close