Price trend

The lithium hydroxide market fluctuated slightly in April and rose slightly. According to the Commodity Market Analysis System of SunSirs, as of April 29th, the average price of industrial grade lithium hydroxide in China was 107,200.00 RMB/ton, an increase of 0.56% compared to April 1st. As of April 29th, the average price of domestic battery grade lithium hydroxide enterprises was 120,000.00 RMB/ton, an increase of 1.98% compared to April 1st.

Analysis review

In the first half of the month, the price of upstream spodumene concentrate slightly increased, the upstream lithium carbonate market rose, cost support was strong, and the supply side finished product inventory was in the middle position. The downstream high nickel production was extremely stable with an increase, and the market inquiry atmosphere was active. However, the mentality of following up on high priced raw materials was still cautious, and purchasing at low prices on demand was the main choice. The market wait-and-see atmosphere was strong, and prices fluctuated narrowly and rose. In the second half of the month, the price of upstream spodumene concentrate remained stable, while the price of upstream lithium carbonate remained stable with little fluctuation. The impact on the cost side was limited, and the supply side started production at a low level. Manufacturers mainly maintained long-term contracts. Before the holiday, downstream demand for goods increased, and enterprises watched the market adjust their prices flexibly and shipped according to the market. The lithium hydroxide market fluctuated narrowly.

Upstream lithium carbonate: According to the monitoring of the commodity market analysis system of SunSirs, on April 29th, the reference price for lithium carbonate industrial grade was 108,400.00 RMB/ton, an increase of 1.31% compared to April 1st (107,000.00 RMB/ton), providing moderate support for the lithium hydroxide market.

Market outlook

According to Lithium Hydroxide analysts from SunSirs, short-term cost support may be average. As of April 30th, large factories were mainly delivering long-term orders, while downstream demand for high nickel materials was still acceptable. The new energy and energy storage market was performing well, with demand side procurement or just in demand follow-up. The market procurement mentality was still cautious, and it is expected that in the short term, the lithium hydroxide market may mainly focus on observing and negotiating with the market, with little price fluctuation.

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