SunSirs: Has the Turning Point Arrived When Lithium Carbonate Has Been Destocked for 9 Consecutive Weeks

https://www.chemnet.com   Nov 06,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the lithium carbonate market operated weakly and steadily in early November. As of November 6th, the average price of battery grade lithium carbonate is 79,200 RMB/ton, an increase of 1.8% from the same period last month when it was 77,800 RMB/ton. The average price of industrial grade lithium carbonate is 76,800 RMB/ton, an increase of 2.13% from 75,200 RMB/ton in the same period last month.

Lithium carbonate was destocking

Lithium carbonate has shown a trend of destocking for 9 consecutive weeks. As of October 27, 2024, the total inventory of lithium carbonate was 116,500 tons, a decrease of 1.8% compared to the previous period. Among them, the inventory of smelters decreased significantly, with a month on month decrease of 9.1% to 46,000 tons. September and October are the traditional peak seasons for lithium carbonate, with a significant increase in demand and an increase in sales growth of new energy vehicles, driving the destocking of lithium carbonate. With the end of the peak season, the growth rate of the new energy vehicle market may slow down, and the demand for lithium carbonate will also decline. This will make it difficult to sustain the trend of destocking.

Lithium carbonate production capacity released

From the supply side, as the price of lithium carbonate reaches a relatively balanced position and maintains a narrow range of fluctuations, the production side is expected to recover. In the future, there will still be lithium resources put into production and climbing, and the supply side is likely to continue to maintain a growth trend.

Market outlook

The data analyst of SunSirs believes that although the supply and demand relationship of lithium carbonate will be improved in the short term, it is still not optimistic in the medium to long term. In the medium to long term, with the continuous increase of the supply side and the relative stability of the demand side, the lithium carbonate market will face pressure from oversupply.

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